Nornickel fined $2.1bln over Arctic oil spill

Nornickel should pay $2.1 billion in damages for an unprecedented oil leak in the Arctic by a company subsidiary, Russia’s Environment Supervision Agency, Rosprirodnadzor, suggested on Monday July 6.

The “voluntary” damages bill sets a Russian record and adds to at least another $343 million Nornickel previously said it would spend related to the May 29 incident in Siberia.
Nornickel gave a “hugely preliminary” oil clean-up estimate of $150 million plus penalties on June 9, and said on June 19 that it would invest $193 million in safety improvements within 18 months.

It since had another environmental incident in the same region of Siberia, albeit very minor compared with the biggest oil spill in the Arctic Circle since the Exxon Valdez, which led to Russia declaring a state of emergency on...

Published

Orla O'Sullivan

July 08, 2020

03:55 GMT

New York