The Russian assets were seized in Finland. This is the 1st time when this was done abroad at the request of the Ukrainian company “Naftogaz”

The district court of the city of Helsinki (Finland) seized the assets belonging to the Russian Federation on the territory of Finland. In 2014, this is the first case where Russian property was seized outside of Ukraine in cases of lawsuits brought by Ukrainian companies to Russia regarding the expropriation of property in Crimea.

This was reported by the companyʼs press service.

We are talking, in particular, about real estate — the value of seized property reaches "tens of millions of dollars."

Russia refuses to voluntarily pay compensation to “Naftogaz” for losses due to the seizure of the companyʼs assets in Crimea in 2014, so the seizure of assets is a step towards confiscating property in Russia in favour of the company.

What preceded

On February 21, 2022, the International Court of Arbitration in The Hague began hearings regarding the compensation of “Naftogaz” from Russia for lost assets during the annexation of Crimea. The company demanded more than $10 billion from the Russian Federation, including interest.

In April 2023, the Arbitration Tribunal at the Permanent Chamber of the Arbitration Court in The Hague ordered Russia to pay $5 billion to “Naftogaz” to compensate for damages and loss of property as a result of the occupation of Crimea.

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