Finland orders seizure of Russian assets at request of Ukrainian oil and gas company

www.euronews.com

Finland orders seizure of Russian assets at request of Ukrainian oil and gas company

www.euronews.com

0x815@feddit.org to

Europe@feddit.orgEnglish · 5 days ago

Finland orders seizure of several Russian assets across the country

www.euronews.com

The ruling by a Finnish court came after Russia failed to pay €4.6bn in compensation to the Naftogaz Group following its occupation of Crimea in 2014.

A Finnish court has ordered the seizure of Russian assets in Finland worth tens of billions of euros after ruling in favour of Ukraine’s state-owned oil and gas company, Naftogaz.

The court’s decision followed a 2023 ruling by the Permanent Arbitration Court based in The Hague which ordered Russia to pay roughly €4.6bn in compensation to the company after seizing its assets illegally during the 2014 occupation of Crimea.

“Since Russia refuses to voluntarily pay Naftogaz the funds stipulated by The Hague ruling, we continue to use all available mechanisms to recover them. Today, we are one step closer to restoring justice. At the same time, we are taking active steps to enforce the arbitration award in other target jurisdictions involving Russian assets,” a statement from Naftogaz Group Board Chairman and CEO Oleksiy Chernyshov said.

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