The ruling by a Finnish courtroom got here after Russia did not pay €4.6bn in compensation to the Naftogaz Group following its occupation of Crimea in 2014.
A Finnish courtroom has ordered the seizure of Russian property in Finland value tens of billions of euros after ruling in favour of Ukraine’s state-owned oil and gasoline firm, Naftogaz.
The courtroom’s choice adopted a 2023 ruling by the Everlasting Arbitration Courtroom based mostly in The Hague which ordered Russia to pay roughly €4.6bn in compensation to the corporate after seizing its property illegally throughout the 2014 occupation of Crimea.
“Since Russia refuses to voluntarily pay Naftogaz the funds stipulated by The Hague ruling, we proceed to make use of all out there mechanisms to recuperate them. Immediately, we’re one step nearer to restoring justice. On the similar time, we’re taking lively steps to implement the arbitration award in different goal jurisdictions involving Russian property,” an announcement from Naftogaz Group Board Chairman and CEO Oleksiy Chernyshov mentioned.
In keeping with native media, the properties seized embrace the Russian Centre of Science and Tradition in Helsinki, together with 4 different Russian-owned buildings within the Åland Islands.
A property in a Russian Federation-owned seaside web site in Kirkkonummi, which many Russian diplomats use for recreation, was additionally taken, in line with native reviews.
The Kremlin says it’s submitting a authorized problem in opposition to the courtroom’s ruling.
“In fact, we’ll dispute this in courtroom. Naturally, the Russian Federation will defend its property pursuits, so we’ll use all authorized mechanisms to guard our pursuits,” Kremlin spokesman Dmitry Peskov informed reporters.
Naftogaz additionally famous that any remaining curiosity on Russia’s excellent obligations will proceed to accrue till full cost is obtained.
