Norway Seizes Russian Vessel in Arctic to Recover $4.22B Arbitration Award
A Norwegian court ordered the seizure as Naftogaz seeks to recover a $4.22 billion award tied to Russia’s seizure of Ukrainian energy assets.
- On Thursday, authorities in Norway seized the expedition vessel Professor Molchanov in the Arctic archipelago of Svalbard, more than 500 miles north of the mainland, to help Ukraine enforce a $4.22 billion arbitration award against Russia.
- After Russia refused to pay the 2023 arbitration award, Naftogaz petitioned national courts to seize commercial assets abroad. The penalty stems from Russia's 2014 illegal annexation of Crimea and seizure of Ukrainian energy pipelines.
- Russian leader Vladimir Putin criticized the seizure at the Eastern Economic Forum in Vladivostok on Thursday, comparing it to "state terrorism," the Associated Press reported.
- Naftogaz CEO Sergii Fedorenko called the move an "important step towards restoring justice," stating the company will continue pursuing legal avenues to recover assets from Russia's unlawful seizure in Crimea.
- Ukraine has pressed a widening financial campaign against Russia in recent months, including the European Union's August 5 allocation of around $1.6 billion to Kyiv and new sanctions on 28 entities tied to occupied territories.
41 Articles
41 Articles
Norway seizes Russian vessel in Arctic to recover $4.22B arbitration award
Norwegian authorities seized a Russian vessel in the Arctic archipelago of Svalbard at the request of Ukraine to help recover a multibillion-dollar arbitration award stemming from the 2014 annexation of Crimea.
NORWAY SEIZES RUSSIAN SHIP NEAR SVALBARD AT THE REQUEST OF UKRAINIAN ENERGY COMPANY
Norwegian authorities have seized the Russian ship Professor Molchanov, docked in Barentsburg, in the Svalbard archipelago, at the request of the Ukrainian state-owned energy company Naftogaz.The measure was authorized on August 31 by the court of...
The ship, Professor Molchanov, is used for commercial shipping cruises.
Norwegian authorities have seized a Russian ship in the remote Arctic archipelago of Spitsbergen at the request of Ukraine, the AP news agency reports. Russian President Vladimir Putin condemned the action on Thursday, comparing it to “state terrorism.” A Norwegian court ordered the seizure of the ship, the Professor Molchanov, at the request of Ukraine’s state-owned energy company, Naftogaz. The Ukrainian company is seeking to enforce a $4.22 b…
Russia has used the platform for its hybrid operations and nationalist propaganda, a professor of Russian history told NRK.
Ukrainian energy company Naftogaz seeks to seize Professor Molchanov to recover more than $4 billion for expropriations following the annexation of Crimea.
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