A Norwegian court in Oslo has ordered the seizure of five properties linked to the Russian state, in response to a claim by Ukrainian energy company “Naftogaz“ and five related companies. The measure is part of an attempt to collect a claim for about 57 billion Norwegian kroner, or approximately $6 billion.
Among the properties is an apartment building in the Frogner district. The other four are apartments in housing cooperatives - three in the west of Oslo and one in the Sinsen area. According to data cited by VG, the initial claim was for 40 billion kroner, with the remaining amount accrued from interest and costs.
The claim is related to assets in Crimea
The claim stems from the loss of assets of “Naftogaz“ after the annexation of Crimea by Russia in 2014. An arbitration award from 2023 allowed Ukrainian companies to search for Russian assets in various countries after Moscow failed to pay the awarded compensation.
Russia is challenging the arbitration award in Dutch courts, which is why the dispute has not yet been finally concluded. However, the Oslo court's decision allows the Ukrainian side to keep the properties as collateral for its claim.
The properties were rented out
The court issued the measure without prior notification to the Russian authorities. The decision states that four of the properties were rented out, while the fifth was empty but had also been used for renting out. “There is no evidence that any of the tenants are diplomats or have any connection to the Russian diplomatic mission in Oslo“, the court wrote, quoted by VG.
Another inspected property was not included in the measure, as according to the court it was used by persons associated with the Russian diplomatic mission. This is an important distinction, as properties used for diplomatic purposes may be protected by state immunity.
Russia may request a review
The seizure does not mean that the properties have already been sold. It restricts their ability to be freely disposed of and could be followed by a forced sale if the Ukrainian side is granted the right to enforce its claim.
According to the decision, the measure can be lifted if the Russian Ministry of Justice provides a guarantee of 40 billion Norwegian kroner. Russia may also request an oral hearing of the case before the court in Oslo.
The case is part of a broader effort by “Naftogaz“ to search for Russian assets abroad. In September, the Russian research vessel “Professor Molchanov“ was detained in the Norwegian archipelago of Svalbard on a similar request, The Associated Press reported.
Sources: vg.no, aftenposten.no, apnews.com