Finland so far seems to weather a cut from Russian electricity supplies in the wake of its NATO application well, but state-owned utility Fortum had to acknowledge billions in impairments related to the planned phased exit of its vast activities from the hostile neighbouring country.

The Nordic country with its 1,300km border to Russia in reaction to the invasion of Ukraine on Sunday had officially announced it will apply for NATO membership after a pro-forma debate in parliament today, a move that will likely be followed by neighbouring Sweden.