Norway Seizes Russian Cruise Ship to Enforce Naftogaz's $4.22 Billion Claim
Norway has seized a Russian commercial cruise ship off the Svalbard archipelago at the request of Ukrainian oil and gas firm Naftogaz, which is seeking enforcement of a $4.22 billion award over Russia’s asset expropriation when it annexed Crimea. “At the request of Naftogaz Group, Norwegian authorities have seized the Russian vessel Professor Molchanov at the port of Barentsburg in Svalbard as…
Norway has seized a Russian cruise ship near the Svalbard islands at the behest of Ukrainian energy firm Naftogaz. Naftogaz is pursuing a $4.22 billion claim against Russia for the unlawful seizure of its assets when Russia annexed Crimea in 2014. The Ukrainian company announced that Norwegian authorities seized the vessel Professor Molchanov at the port of Barentsburg in Svalbard.
The ship has been under Naftogaz's radar for months, as the arbitral award recognizing Russia's obligations in the case has been recognized in Norway. The vessel was ordered to remain at its current location, and the Governor of Svalbard must take steps to prevent it from being moved. Naftogaz's acting CEO, Sergii Fedorenko, affirmed that they will continue their pursuit of Russian assets worldwide until the awarded compensation is paid.
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Also reported by 2 other outlets
- Norway seizes Russian ship in Arctic dailytimes.com.pk
- Norway seizes Russian ship to enforce $4.22 billion Ukrainian compensation claim france24.com
