Norwegian officials have confiscated the Russian-owned expedition vessel, Professor Molchanov, in Svalbard, following a request from Ukraine’s Naftogaz Group. This action aims to enforce a $4.22 billion arbitration ruling against Russia for assets seized during the annexation of Crimea in 2014. The Governor of Svalbard confirmed the seizure on September 2, based on a court order issued by the Nord-Troms District Court on August 31, which permitted Naftogaz to take the vessel to assist in recovering their expropriated assets.
The Professor Molchanov will remain in Barentsburg, subject to directives from the Governor or the court. The Governor’s office is collaborating with Trust Arktikugol, a Russian state entity managing Barentsburg, to ensure the welfare of the crew and passengers aboard the ship. According to Naftogaz, the seizure of the vessel is crucial in securing enforcement of Russia’s financial obligations stemming from the international arbitration award, which has already been recognized as enforceable in Norway.
Naftogaz Acting CEO Sergii Fedorenko described the move as a significant step towards rectifying the injustices associated with Russia’s unlawful appropriation of Ukrainian assets. He emphasized that Russia cannot escape accountability by ignoring the arbitration ruling, asserting Naftogaz’s commitment to pursuing Russian assets globally until the compensation is paid. The ongoing dispute traces back to the 2014 annexation of Crimea and the subsequent seizure of Naftogaz assets, with the company actively seeking international legal remedies.
