The District Court of Nur-Trums and Senja in Norway has seized the Russian vessel «Professor Molchanov» following an application by Naftogaz. The measure was taken to ensure compliance with an arbitration award regarding compensation for the company’s assets illegally seized by Russia in the temporarily occupied Crimea. The vessel is currently in the port of Barentsburg in the Svalbard archipelago.
Briefly about the main points
- A Norwegian court has arrested «Professor Molchanov» following a complaint by «Naftogaz».
- The Nur-Trums and Senja District Court handed down its ruling on 31 August.
- The vessel is not permitted to leave the port of Barentsburg in Svalbard.
- The seizure secures a claim against the Russian Federation amounting to approximately $4.22 billion.
- «Naftogaz will continue to search for Russian assets abroad.
The vessel was blocked in Barentsburg
Following its arrest, the vessel «Professor Molchanov» is not permitted to leave its current location — the port of Barentsburg. The court issued its ruling on 31 August.
Matters concerning the ship’s passengers are dealt with by the Norwegian authorities. Barentsburg is situated on Svalbard, which is under Norwegian sovereignty.
The attachment ensures enforcement of the arbitral award
The seizure is intended to ensure the recovery of approximately $4.22 billion from Russia for the unlawful seizure of Naftogaz’s assets in the temporarily occupied Crimea. This is a precautionary measure in the enforcement proceedings, rather than an automatic payment of the full amount of compensation.
Naftogaz has stated that it will continue to search for Russian assets in various countries until the compensation awarded has been paid. According to the company, the vessel belongs to the Russian Federation and is used for commercial expedition cruises.
