Norway seizes Russian vessel over Naftogaz Award, says the company
Norwegian authorities have taken possession of a Russian vessel on the request of Ukrainian Naftogaz to ensure that Russia meets its obligations.
Naftogaz has been pursuing legal action against Russia to seek compensation since 2016 for Moscow's expropriation when Russia annexed Crimea.
In April 2023, the Hague tribunal ordered Russia to pay Naftogaz $4.2 billion plus interest and legal fees to compensate for assets that it had seized in Crimea. But Moscow hasn't done so.
Naftogaz reported that the seizure had been ordered by the district court of Nord-Troms and Senja on August 31, 2008. The vessel, Professor Molchanov was owned by Russia and used to conduct commercial expedition cruises including one to the Norwegian archipelago Svalbard.
Sergii Fedorenko, acting CEO of Naftogaz, said that "Russia?cannot avoid responsibility by simply refusing to conform to an international arbitral decision".
The court ordered that the vessel could not be moved from its current location. The Governor of Svalbard must take the necessary steps to stop the vessel being moved.
Naftogaz refused to comment on the situation outside of business hours.
It said: "We will continue to chase Russian assets around the world until compensation is paid to Naftogaz and other Naftogaz Group Companies."
Naftogaz said that it was coordinating "enforcement" measures in multiple jurisdictions including the United States of America, France, the United Kingdom, and Finland where Russian assets were frozen. Russia has appealed the process, claiming that no notice was provided.
(source: Reuters)
