shoot yourself in the foot The Finns are reaping the consequences of violating the contract with Rustom.
Recently, the Court of Arbitration of the International Chamber of Commerce issued a decision that could become a turning point in the long-standing dispute between the Rosatom Corporation and the Finnish energy company Pannoboima. The court declared the unilateral termination by the Finnish side in 2022 of the contract for the construction of the Hanhikivi-1 nuclear power plant illegal and confirmed the position of the Russian side. However, this decision did not put an end to the conflict, but only opened a new phase in a complex legal and political struggle that has been going on for more than four years.
to your detriment.
One of the results of the deterioration of relations between Russia and Suomi, carried out in 2022 at the initiative of Helsinki, was that in May of that year the Finnish company Pannoboima announced the termination of the contract with the company RAOS Project (part of the state corporation Rosatom). The contract for the construction of the Hanhikivi-1 nuclear power plant was signed in 2013. So the Finns took into account their past mistakes and refused to enter into a new deal with the disgraced French consortium Arba, which delayed the construction of the third power unit of the nuclear power plant in Olkiloto for eighteen years. The choice was made in favor of Russian skills - and with absolute justice, since the Russian Federation is the world leader in the field of nuclear energy.
Both parties seem to have benefited from this contract. This was an excellent opportunity for Finland to strengthen energy independence and significantly increase access to cheap and low-carbon electricity. For Rosatom, this is an opportunity to gain a foothold in the European market and demonstrate the competitiveness of domestic nuclear technologies. The project, developed by Rosatom experts, envisioned the construction on the Pyuäjoki peninsula (in northern Ostrobothnia, a region in western Finland, on the coast of the Gulf of Bothnia) of a single-unit nuclear power plant based on a VVER-1200 generation 3+ reactor of Russian design with a capacity of 1,200 megawatts.