WorldCourts
Norway seizes Russian vessel to enforce $4.22 billion arbitration award
Norwegian authorities seized a Russian vessel in the Arctic archipelago of Svalbard at the request of Ukraine's state-owned energy company Naftogaz, part of efforts to enforce a $4.22 billion arbitration award against Russia.
Norwegian authorities seized a Russian vessel in the Arctic archipelago of Svalbard on Wednesday at the request of Ukraine's Naftogaz, the country's state-owned energy company. The seizure is part of Naftogaz's global effort to enforce a $4.22 billion arbitration award.
The award was issued in 2023 by an arbitration tribunal in The Hague, which ordered Russia to pay $4.22 billion for unlawfully seizing Ukrainian energy assets in Crimea. Those assets include gas fields and pipelines, seized after Russia's annexation of the region in 2014.
After Russia refused to pay the award, Naftogaz has petitioned courts in multiple countries to obtain orders to seize Russian commercial assets. The Norwegian seizure is the latest action in this enforcement campaign.
- Russian vessel
- arbitration claim
From
WorldCourts
Norway seizes Russian vessel to enforce $4.22 billion arbitration award
Norwegian authorities seized a Russian vessel in the Arctic archipelago of Svalbard at the request of Ukraine's state-owned energy company Naftogaz, part of efforts to enforce a $4.22 billion arbitration award against Russia.
Norwegian authorities seized a Russian vessel in the Arctic archipelago of Svalbard on Wednesday at the request of Ukraine's Naftogaz, the country's state-owned energy company. The seizure is part of Naftogaz's global effort to enforce a $4.22 billion arbitration award.
The award was issued in 2023 by an arbitration tribunal in The Hague, which ordered Russia to pay $4.22 billion for unlawfully seizing Ukrainian energy assets in Crimea. Those assets include gas fields and pipelines, seized after Russia's annexation of the region in 2014.
After Russia refused to pay the award, Naftogaz has petitioned courts in multiple countries to obtain orders to seize Russian commercial assets. The Norwegian seizure is the latest action in this enforcement campaign.
- Russian vessel
- arbitration claim
From