Finland seizes part of Russia's assets worth tens of millions of dollars

The Helsinki District Court has upheld a petition by Ukraine’s state-run gas regulation company Naftogaz of Ukraine and five other companies of the Naftogaz Group, and has seized certain assets owned by Russia in Finland. 

Source: Naftogaz’s press service 

Details: These assets are property and other assets valued at tens of millions of dollars.

Quote from Oleksii Chernyshov, CEO of Naftogaz Group: "This is the first publicly known successful seizure of assets outside Ukraine to enforce an arbitral award in cases involving claims by Ukrainian companies against Russia for the expropriation of property in the Autonomous Republic of Crimea in 2014. It is an interim step towards the actual recovery of assets in favour of Naftogaz Group. 

We are taking active steps to enforce the arbitration award in other target jurisdictions where we have Russian assets." 

Details: It was stressed that the interest due for non-payment of funds in accordance with the arbitration award continues to accrue until full payment of compensation under the arbitration award.

Background: In January-September 2024, Naftogaz Group paid almost 67 billion hryvnias (about US$1.6 billion) in taxes based on the results of its operations.

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