RAO Nordic to Resume Electricity Supply to Finland Once Account Unfrozen, Russian Official Says

MOSCOW (Sputnik) - RAO Nordic, a subsidiary of Russian diversified energy holding company Inter RAO, is negotiating with a Finnish bank to unfreeze the account; if the issue is resolved, electricity supplies from Russia to Finland will be restored, Anton Loginov, Russia’s trade representative in Finland, said.

The official said that Finland refused buying electricity and RAO Nordic was forced to suspend imports to the Northern European country, adding that the company has not even received funds for the volume of electricity sold in early May.

"The company is negotiating with a Finnish bank to unfreeze the account," Loginov said, noting that if the situation with payments changes, then Russia "will be able to continue to supply electricity to Finnish partners."

Russia supplied about 10% of the Finnish electricity market, and now its cost in the country is growing, which causes concern on the part of local authorities and the population, the trade representative noted.