Russian Expedition Ship Seized in Norway Over $4.22 Billion Naftogaz Claim

Norwegian authorities have seized a Russian-owned expedition ship in Svalbard at the request of Ukraine’s Naftogaz Group as the company seeks to enforce a $4.22 billion arbitration award against Russia over assets expropriated following the annexation of Crimea.

The Governor of Svalbard confirmed Wednesday that it had seized the Professor Molchanov, which is docked in Barentsburg, following an order from the Nord-Troms District Court.

The court ruled August 31 that Naftogaz could seize the vessel as part of its effort to recover compensation from Russia. The Governor of Svalbard, acting as the local enforcement authority, carried out the seizure on September