Russian Court Orders Mining Giant To Pay $1.96 Billion For Arctic Spill

"A Russian court has ordered a mining company involved in a massive Arctic fuel spill last year to pay approximately $1.96 billion in compensation.

Bloomberg reported Friday that the court sided with Russia’s ecological watchdog agency, the Federal Service for Supervision of Natural Resources, which had demanded MMC Norilsk Nickel (Nornickel) PJSC pay an amount slightly more than was decided by the court.

The mining company had argued that, according to its own estimate, it only owed approximately $287 million."

Celine Castronuovo reports for The Hill February 5, 2021.

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"Mining Giant Ordered to Pay $2 Billion Fine for Fuel Spill in Arctic" (Bloomberg)