The Helsinki District Court granted the request of NAK Naftogaz of Ukraine and five other companies from its group, seizing Russian assets in Finland. We are talking about real estate and other valuables worth tens of millions of dollars.
The court has seized certain assets of the Russian Federation in Finland
This decision became part of Naftogaz's strategy to compensate for losses for seized assets in Crimea. This is the first publicly known seizure of assets outside of Ukraine in claims against the Russian Federation for the expropriation of property in occupied Crimea in 2014.
The head of the Naftogaz Group, Oleksiy Chernyshov, said that now Russia does not want to voluntarily pay the compensation provided for by the Hague decision. In this regard, the company uses all available opportunities to obtain money.
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– Today we are one step closer to restoring justice. At the same time, we are taking active steps to implement the arbitration award in other target jurisdictions where there are Russian assets, Chernyshov noted.
At the same time, interest for non-payment of money under the arbitration award continues to accrue until the compensation is fully repaid.
It is noted that in October 2016, Naftogaz and its subsidiaries initiated arbitration proceedings against the Russian Federation due to the seizure of assets in Crimea, and in September 2017, they filed an application with the Hague Tribunal.
In April 2023, the arbitration tribunal ordered the Russian Federation to pay Naftogaz $5 billion for damages from the seizure of assets in 2014 year.
