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  • Thursday, 29 February 2024
US authorizes seizure of plane owned by Russian oil company

US authorizes seizure of plane owned by Russian oil company

The United States has authorized the seizure of a private jet owned by a Russian oil company as part of an ongoing legal dispute over a $500 million judgment against the company.

The Gulfstream G650 jet, which is registered to the Russian oil company Lukoil, was seized by the US Marshals Service in Houston last week. The seizure was authorized by a federal judge in Washington, D.C., who is overseeing the case.

The dispute centers on a $500 million judgment against Lukoil, which was awarded to a group of American investors who claimed that the company had cheated them out of their share of profits from an oil field in western Siberia. Lukoil has denied any wrongdoing, and has refused to pay the judgment.

In response, the investors have been seeking to seize Lukoil's assets in the United States, including the Gulfstream jet. The investors have argued that the jet is owned by a shell company that was set up by Lukoil to evade the judgment.

The seizure of the Gulfstream jet marks a significant escalation in the legal battle between the investors and Lukoil. It is also likely to further strain relations between the United States and Russia, which have been tense in recent years due to a range of issues, including election interference and the conflict in Ukraine.

Lukoil, which is one of Russia's largest oil companies, has not commented on the seizure of the jet. However, the Russian government has condemned the move, calling it a violation of international law.

"The United States has once again demonstrated its disregard for the norms of international law and the principles of interstate cooperation," said Russian Foreign Ministry spokeswoman Maria Zakharova in a statement.

The seizure of the Gulfstream jet is just the latest in a series of legal disputes between American investors and Russian companies. Over the past decade, a number of American investors have sued Russian companies over alleged fraud and other illegal activities, leading to several multi-million dollar judgments.

The seizure of the Gulfstream jet is a reminder that even wealthy and powerful corporations are not immune from legal action in the United States. As more and more companies do business in the global economy, they will need to be aware of the legal risks that come with operating in foreign jurisdictions, and take steps to protect themselves from legal action.

 

The United States has authorized the seizure of a private jet owned by a Russian oil company as part of an ongoing legal dispute over a $500 million judgment against the company.

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