Russia has cut off electricity to Finland on Saturday 'for the first time in over 20 years' amid a payment dispute.
RAO Nordic, a subsidiary of Inter ROA, said it will stop exporting electricity to Finland without providing specifics amid larger tensions across Europe beset by the Russia-"This situation is exceptional and happened for the first time in over twenty years of our trading history," RAO Nordic said in a statement, per the report.Electrical services, which account for 10% of the country’s total consumption, were discontinued "for the time being" at 1 a.m.
"Missing imports can be replaced in the electricity market by importing more electricity from Sweden and also by domestic production," the company added, Reuters reported. HELSINKI, FINLAND - APRIL 18: A few thousand people gather in central Senaatintori square to show support to Ukraine and to demonstrate against Russia, on April 18, 2022 in Helsinki, Finland. "Nord Pool is the one paying for them. Fingrid is not a party in this electricity trade. We provide the transfer connection from Russia to Finland," Reima Paivinen, Fingrid's senior-vice president for operations told the outlet.
The discrepancy in the paused payments could be connected to prior demands from Russian President Vladimir Putin, who demanded countries pay gas fees in rubles, Russia’s national currency.Russian President Vladimir Putin at a press conference at the Presidential Palace in Helsinki, Finland, Monday, July 16, 2018.
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