Finnish utility Fortum said it and German unit Uniper jointly will record pre-tax impairments of about €2.1bn ($2.21bn) related to the companies' Russian operations in its first quarter results, following the attack on Ukraine and “consequential geopolitical tensions, uncertainties and risks”.

Of the total, €200m is related to Fortum’s stake in Russian power company TGC-1 and renewables joint ventures, €300m are related to fixed assets and goodwill for Fortum’s Russia segment and some €600m for fixed assets from Uniper’s Russian subsidiary Unipro.