The decision, which was proposed by the country's defence ministry was announced at a press conference addressing the crisis in Ukraine and European sanctions against Russia.

"Russia's actions towards Ukraine are completely unacceptable. Finland has condemned them, and the EU has condemned them," Marin said.

Russia on Monday recognised two separatist regions of Ukraine as independent.

"The Ministry of Economic Affairs and Employment has earlier today stated that a risk assessment will be carried out for Fennovoima from a security perspective," Marin added.

The proposed 1,200-megawatt Russian-designed reactor project in Pyhajoki, about 100 kilometres from the port of Oulu in northern Finland, is handled by Fennovoima, a company established specifically for the purpose by Rosatom together with a Finnish consortium.

"Hanhikivi 1," of which Rosatom owns a 34-percent stake, has already been delayed several times and the construction permit has not yet been granted.

There were already many uncertainties about its future, but it remains one of the major industrial projects involving a Russian company in the European Union.

According to the latest schedule announced by Fennovoima as part of its application for a construction permit was for construction to start in 2023 going into operation in 2029.