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The Vienna District Court has authorized the Naftogaz Ukrainy group of companies to recover €120 million from Russia by encumbering and auctioning off more than 20 Russian properties in Austria. This was reported by the Ukrainian company's press service.
Naftogaz did not specify which properties were at issue in the Austrian court's ruling. Naftogaz continues similar actions in other jurisdictions, the company noted, referring to an arbitration case against Russia demanding compensation for the illegal expropriation of Naftogaz's strategically important energy assets in Crimea, which were effectively stolen with the annexation of the peninsula.
This concerns fields, drilling rigs, underground storage facilities, ships, the gas transportation system, and many other assets that Ukraine lost after the annexation. According to Naftogaz, Russia's actions violated the Ukrainian-Russian investment protection agreement.
