Finland continues energy deals with Russia

Despite EU sanctions against Russia, Finland continues negotiating energy deals with Russia. On 5 December, just one day before Finnish independence day (Finland was part of the Russian Empire until 6 December 1917), the Finnish parliament decides on a new nuclear power plant project that is partly owned by Russia’s state owned Rosatom and will be supplied by nuclear fuel from Russia. Finnish observers expect the vote to be in favor for the Russian nuclear power plant project in Finland, especially after Finnish (half state owned) energy company Fortum announced to co-finance the nuclear power plant project. In return for that Fortum gets the majority of shares of  Russian hydro-power company TGC-1.  Fortum currently is in negotiations with Rosatom and Gazprom regarding the changes of ownership.

Observers consider this planned arrangements between Russia and Finland as a horse trade with Russia getting its geostrategically important nuclear power plant in Finland and Finland the prospect on a few lucrative hydro-power projects in Russia. Some also note that Finland is alienating itself from its Western partners and moving more into dependency on Moscow and closer to Russia  which Finland was part of about 100 years ago.

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