HELSINKI (Reuters) -Finnish power utility Fortum has formally notified the Kremlin that it strongly objects to what it said was Russia's "unlawful" seizure of its subsidiary in the country.
Russian President Vladimir Putin signed a decree on April 25 to establish temporary control of Fortum's Russian assets, which the utility has openly tried to sell since Russia's invasion of Ukraine last year.
"With its actions, the Russian Federation has caused the dismissal of PAO Fortum's CEO and deprived Fortum of its shareholder rights," the company said on Friday, adding that it was preparing to take legal action.
In a morning press conference, Kremlin spokesperson Dmitry Peskov responded by saying the seizure was in accordance with Russian legislation.
"These actions, first of all, are dictated by the need to protect our own interests against the backdrop of the steps taken by countries unfriendly to us," Peskov said.