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Tuesday, May 24, 2022
HomeLatest NewsThe Kremlin follows through on its warning and cuts power to Finland

The Kremlin follows through on its warning and cuts power to Finland

Russian energy company Inter RAO cut off electricity supplies to Finland through its subsidiary RAO Nordic Oy early this Saturday, saying “problems with receiving payments for electricity sold,” said Fingrid, the Finnish company that manages the electricity grid. RAO Nordic Oy warned on Friday that it is “forced to suspend electricity imports from May 14” as tensions between Russia and Finland escalate.

On the same Saturday, Russian President Vladimir Putin warned his Finnish counterpart Sauli Niinisto that Finland’s accession to NATO could lead to “negative impact” on bilateral relations before making sure that his country does not pose a threat to his neighbor. This is how Putin responded in a telephone conversation with Niinistö, in which the Finnish president formally informed him of his decision to request membership in the Atlantic Alliance “in the coming days”, concerned about the impact of the Russian invasion of Ukraine on its national security situation.

For Putin joining is a “mistake” as “there are no threats for the security of Finland” and “such a change in the country’s foreign policy could have a negative impact on Russian-Finnish relations built in good faith,” the Kremlin said in a conversation characterized by an “exchange of frank points of view.” Both leaders also commented on the development of the war in Ukraine. In this sense, Putin placed special emphasis on the fact that the peace talks are suspended because of the Ukrainian government, “which is not interested in developing a serious and constructive dialogue.”

It accounts for 10% of the country’s consumption.

RAO Nordic Oy assured that it has been importing electricity from Russia to Finland for many years and selling it on the Nord Pool exchange, noting that sales made since May 6 have not yet been credited with funds in your bank account. “We hope that the situation will improve in the near future and electricity trade with Russia can be resumed,” the subsidiary of the Russian company added.

As explained in Fingrid’s statement, electricity imported from Russia involves about 10% of the total consumption of the Scandinavian country, so that this decision does not threaten the supply. Missing imports can be replaced in the electricity market through imports more electricity from Sweden and partly also through the production Inter RAO is the only operator in Russia for the export-import of electricity, and Finland has historically been its main customer.


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