Norway seizes Russian state ship 'Professor Molchanov' over $4.2 billion Ukraine claim
Norwegian authorities seized the vessel at Barentsburg port on Wednesday following a court order regarding unpaid assets from Russia's illegal annexation of Crimea.
Norwegian officials seized the Russian state-owned ship 'Professor Molchanov' at the port of Barentsburg in Svalbard on Wednesday. The operation followed a court order issued by the Nord-Troms and Senja District Court. Norwegian officials acting under this order applied to seize the vessel based on an application from Ukraine's energy company Naftogaz. Naftogaz is seeking compensation for assets Russia expropriated in 2014 when it annexed Crimea. A 2023 arbitration tribunal ruled that Russia must compensate Naftogaz and six associated companies, including gas fields and pipelines. The outstanding principal stands at roughly $4.22 billion before interest and costs. The total could reach around $5 billion with accumulated interest. Russia has declined to pay. The arrest warrant was issued on Monday. Svalbard's governor, Lars Fause, confirmed the vessel may not leave its location. Passengers aboard are being handled separately by Norwegian authorities. At this time, the Kremlin has made no statement regarding the situation.
