NewsMV
Norwegian authorities have seized the Russian vessel Professor Molchanov and barred it from departing Svalbard, acting on a direct request from Naftogaz, Ukraine's state energy company.
The enforcement action follows Russia's nonpayment of a $4.22 billion arbitration award stemming from assets seized in Crimea. Naftogaz says the pursuit will extend to other jurisdictions until Russia pays in full.
The $4.22 billion award is the number in focus.
That judgment was handed down against Russia over assets seized in Crimea, and Naftogaz as the creditor has pursued a deliberate enforcement approach: identify Russian assets in jurisdictions where local authorities will honor the award and file for seizure.
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