The Russian-owned Professor Molchanov was detained in Svalbard by Norwegian authorities after Ukraine’s state energy company Naftogaz applied to enforce obligations worth approximately $4.22 billion arising from an arbitration award.
The Nord-Troms and Senja District Court ordered the vessel detained on August 31. The ruling aims to secure payment of the obligations, which total approximately $4.22 billion including interest and costs.
The ruling is linked to assets in Crimea
Naftogaz said the arbitration award concerned the seizure of assets in Crimea belonging to the company and other companies within the Naftogaz Group. The company also said the award had previously been recognized as enforceable in Norway.
Sergii Fedorenko, acting CEO of Naftogaz, described the vessel’s detention as an important step toward recovering the company’s assets. Fedorenko said Russia could not evade responsibility by refusing to comply with the international arbitration award.
Fedorenko said they would continue pursuing Russian assets in different parts of the world until the compensation awarded to Naftogaz and other companies within the Naftogaz Group was paid.
The Professor Molchanov, owned by the Russian Federation, is used for commercial exploration tours, including those organized to Svalbard.
Held at the Port of Barentsburg
Under the court ruling, the vessel is not allowed to leave its current location. Svalbard Governor Lars Fause was also asked to take measures to prevent the vessel from moving.
Norway’s public broadcaster NRK reported that the Professor Molchanov was detained at the Port of Barentsburg after the ruling. Fause said assistance would be provided to those affected by the incident and that support would be arranged for the crew and passengers to return to Russia.
According to Norway’s vessel-tracking system, the Professor Molchanov arrived in Longyearbyen at 2 p.m. on Tuesday. Fause said the matter would be handled locally through cooperation, meetings and dialogue with authorities in Barentsburg, while foreign-policy issues would be referred to Oslo.
Naftogaz said Norwegian authorities were assisting the passengers on board the vessel.
