Norway Seizes Russian Ship to Enforce $4.2Bln Claim by Ukraine’s Naftogaz
A Russian Foreign Ministry spokesperson said the seizure of the ship amounts to an act of “piracy.”
Norway has seized a Russian ship in the Arctic to enforce a $4.2 billion compensation claim by Ukrainian energy firm Naftogaz against Russia for the seizure of assets following the 2014 annexation of Crimea. The vessel, Professor Molchanov, was intercepted off Svalbard after a 24-hour standoff with the Norwegian Coast Guard. Naftogaz has been pursuing legal action against Russia since 2016 to seek compensation for the expropriation of its property in Crimea.
A tribunal in The Hague ordered Russia to pay Naftogaz $4.2 billion plus interest and legal costs in April 2023. Russia has appealed the process, stating that no notice was given, and claims the seizure is an act of piracy.
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