Russia Challenges Asset Seizure by Naftogaz in Finland

Russia is set to legally challenge the freeze of its state assets in Finland linked to a claim by Naftogaz, a Ukrainian oil and gas company. The asset seizure is part of an ongoing legal battle for compensation regarding Russia's annexation of Crimea in 2014.

Russia announced plans to contest the seizure of its state assets in Finland, following a legal move by Ukrainian oil and gas company Naftogaz, the Kremlin stated on Tuesday.

Naftogaz's legal representatives revealed they had successfully frozen Russian state-owned properties and other Finnish assets valued at tens of millions, as part of ongoing compensation efforts against Russia over the 2014 Crimea annexation.

A Hague tribunal previously demanded Moscow pay Naftogaz $4.22 billion for the seized Crimea assets. Despite Russia's non-compliance, Naftogaz remains determined to retrieve the funds, exploring legal avenues globally, including Finland, the U.S., and Britain.

(With inputs from agencies.)