A Norwegian court has seized a Russian vessel following a lawsuit filed by Naftogaz

As part of the enforcement of the Hague arbitration award, Naftogaz of Ukraine secured the seizure of the Russian vessel “Professor Molchanov” in the Norwegian archipelago of Svalbard. This was reported by The Wall Street Journal on October 28.

The seizure took place on September 2 based on a ruling by the Nord-Troms District Court after the Ukrainian company’s legal counsel (Covington & Burling and Wikborg Rein) demonstrated that the vessel did not enjoy state immunity. 

The vessel was operating between Murmansk and the Murmansk community in the village of Barentsburg. As noted by Serhiy Fedorenko, acting chairman of Naftogaz’s board of directors, the significance of the case extends far beyond the vessel’s value, as it sets a legal precedent for the recovery of assets expropriated by the Russian Federation worldwide. Earlier, as part of this same legal campaign, Naftogaz sought the seizure of Russian state-owned real estate in Finland and Austria.

Source: The Wall Street Journal.

Previously, the International Chamber of Commerce’s International Court of Arbitration approved the hearing of Naftogaz’s claim against Gazprom.

The arbitration tribunal in The Hague has begun hearings to determine the amount of compensation to be awarded to Naftogaz of Ukraine for its lost Crimean assets. The court had previously found Russia guilty of expropriating the company’s assets.