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ICC tribunal rules in favor of Rosatom in Fennovoima dispute

Original: An ICC tribunal ruled in favor of Rosatom in its dispute with Finnish utility Fennovoima over the cancelled Hanhikivi-1

An ICC tribunal has ruled in favor of Russia's state nuclear company Rosatom in its dispute with Finnish utility Fennovoima over the cancelled Hanhikivi-1 nuclear project. The tribunal found that Fennovoima's termination of the €7 billion contract in May 2022, following Russia's invasion of Ukraine, was unlawful. The decision has drawn attention across Europe, raising questions about the legal and financial fallout of canceling Russian energy projects.

Why now: The ruling has major financial and geopolitical implications for European energy projects cancelled after Russia's invasion of Ukraine.

RosatomFennovoimaICCHanhikivi-1Finland

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• An ICC tribunal ruled in favor of Rosatom in its dispute with Finnish utility Fennovoima over the cancelled Hanhikivi-1 nuclear project. The ruling found that Fennovoima’s termination of the €7 billion contract in May 2022 was unlawful. https://www.… · hanse_mina · 4

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