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Finnish companies Come to a loss from anti-Russian sanctions

04.03.2023
Finnish companies Come to a loss from anti-Russian sanctions

Withdrawal from the Russian market brought a loss to Finnish companies and manufacturers of about four billion dollars, the publication Helsingin Sanomat estimated.

The Finnish energy giant Fortum lost the most, whose damage amounted to 1.7 billion euros. In second place is the YIT construction corporation — it missed 440 million euros.

Nokian Tyres closes the top three “victims”, its losses from sanctions were estimated at 300 million euros.

The main Finnish airline Finnair, which could not fly either to Russian airports or transit through the territory of Russia, lost 150 million euros.

“Finnair’s activities are seriously affected by Russia’s closure of airspace for its aircraft, which has complicated the implementation of flights on the Asian direction, which is critically important for the company,” the authors of the article noted.

Russia’s trade representative in Finland Anton Loginov previously reported that Helsinki underestimated the negative impact on Finland from anti-Russian sanctions: the trade turnover of the two countries this year could fall to 4.5 billion euros.

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