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NORWAY SEIZES RUSSIAN SHIP: $4.22 Billion Ukraine Claim Triggers Arctic Showdown | Times Now World

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Norwegian authorities seized a Russian commercial vessel in the Arctic archipelago of Svalbard on Wednesday at the request of Ukraine’s state-owned energy company Naftogaz, as Kyiv seeks to enforce a $4.22 billion arbitration award against Russia. The award, issued by an arbitration tribunal in The Hague in 2023, relates to Russia’s seizure of Ukrainian energy assets following its 2014 annexation of Crimea. The vessel, the Professor Molchanov, was ordered to remain in Barentsburg under a Nord-Troms district court ruling dated Aug. 31, according to Svalbard Governor Lars Fause. Russia has refused to pay the award, prompting Naftogaz to pursue Russian commercial assets through courts in several countries.

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