Latest development Oct 10, 2026
Rosatom and Fennovoima announced the ruling, each describing it as a win.
The award
- Amount awarded
- Net €606M plus interest, after the tribunal offset both sides’ claims (Fennovoima). Fennovoima says the supplier must repay advance payments and interest above €1B.
- Award holder
- Fennovoima Oy (Finnish nuclear project company)
- Respondent
- RAOS Project and other companies of the Rosatom group (Rosatom is Russia’s state nuclear corporation)
- Forum
- ICC · EPC contract (2013) for the Hanhikivi 1 nuclear plant, Pyhäjoki · seat not disclosed
Challenges
Rosatom says the tribunal found Fennovoima’s May 2022 termination of the contract unlawful, and that it will keep arguing its position in courts of various instances. No set-aside application reported.
Enforcement
None reported. Fennovoima says several parallel arbitrations with Rosatom entities are still pending.
Recovered to date
None reported
Notes
The award is not public. The €606M net figure is Fennovoima’s account. Rosatom says the tribunal found Fennovoima’s termination of the contract unlawful. Award date and seat not verified.