Norway Seizes Russian Ship Over $4.2B Naftogaz Debt
Naftogaz said the seizure is part of a global effort to collect a $4.22 billion arbitral award over Russia’s Crimea asset grab.
- On Wednesday, Norwegian authorities seized the Russian vessel Professor Molchanov in Barentsburg, Svalbard, at Naftogaz's request to enforce a $4.22 billion Hague tribunal award for assets seized in Crimea.
- The Nord-Troms and Senja District Court issued the seizure order on August 31, clearing the legal path for detention as part of Naftogaz's global strategy to force Russia to pay for assets unlawfully taken during the 2014 annexation of Crimea.
- Svalbard Governor Lars Fause has been ordered to prevent the vessel from leaving Barentsburg and to care for the crew in collaboration with Trust Arcticugol, a Russian state-owned enterprise managing operations in the archipelago.
- Norway's action follows a spike in European efforts to intercept Russian-linked vessels, with recent seizures by France, the United Kingdom, and Sweden signaling growing willingness to enforce international law through asset seizure.
- Russian President Vladimir Putin threatened on August 12 to "respond in kind" if European countries seize Russian commercial vessels, underscoring heightened retaliation risks following the Professor Molchanov detention.
251 Articles
251 Articles
Ukraine's Naftogaz seeks assets to recover Crimea compensation
Naphthogaz has been in court with Russia since 2016, seeking compensation for expropriation of his property in Crimea.
OSLO.– Norway seized a Russian ship in the Arctic archipelago of Svalbard at the request of the Ukrainian state energy company Naftogaz, in a measure aimed at enforcing an arbitral award of $4220 million against Russia for the expropriation of its assets in Crimea following the annexation of the peninsula in 2014.The research and expedition vessel Professor Molchanov was retained on Wednesday in Barentsburg, a coal mining settlement administered…
Norway seizes Russian ship, sparking anger in Moscow, to compensate Ukrainian energy firm
Norwegian authorities have seized a Russian cruise ship in the Arctic on behalf of Ukrainian energy company Naftogaz, which is seeking to enforce a $4.22 billion compensation award for assets that Moscow took when Russia annexed Crimea in 2014. Officials said the vessel, the Professor Molchanov, was seized late on Wednesday in Barentsburg, a coal […]
Norway seized a Russian ship in the Arctic Sea to enforce a court order requiring Russia to pay compensation to the Ukrainian energy company Naftogaz following Russia's seizure of its assets in Crimea.
Russia called the action piracy and summoned the Norwegian ambassador.
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