Kazakhstan says it will not enforce a $1.4 billion ruling that would allow Ukraine’s Naftogaz to recover money from Russia’s Gazprom. According to the reports, a court in the Astana International Financial Centre (AIFC) had recognized a Swiss arbitration award related to the dispute. Despite that recognition, Kazakhstan’s justice minister states that the enforcement decision falls outside Kazakhstan’s legal jurisdiction, meaning the state will not carry out the award domestically. The refusal is described as part of the broader legal strategy pursued by Naftogaz and other Ukrainian claimants, which includes seeking to seize or otherwise recover funds from Russian assets abroad. One source links the overall effort to claims related to unpaid gas transit fees and other wartime contract-related disputes involving Russian entities. The two outlets agree on the core point: Kazakhstan does not intend to enforce the $1.4 billion claim against Gazprom, even after an AIFC court recognized the underlying arbitration award.
Kazakhstan says it will not enforce Naftogaz’s $1.4 billion award against Gazprom
Kazakhstan says it will not enforce a $1.4 billion ruling that would allow Ukraine’s Naftogaz to recover money from Russia’s Gazprom. According to the reports, a court in the Astana International Fina...
- Kazakhstan will not enforce a $1.4 billion award connected to Naftogaz’s claim against Gazprom.
- An Astana International Financial Centre (AIFC) court has recognized a Swiss arbitration award in the case.
- Kazakhstan’s justice minister says the AIFC-related enforcement falls outside the country’s legal jurisdiction.
- The dispute is part of Naftogaz’s wider attempts to recover money through international asset recovery linked to gas and contract claims.
Justice Minister Erlan Sarsembayev said a ruling by a court at the Astana International Financial Centre falls outside of the country’s legal jurisdiction.
3 months agoKazakhstan said it will not enforce a ruling allowing Ukraine’s Naftogaz to recover $1.4 billion from Gazprom, despite an AIFC court earlier recognizing a Swiss arbitration award. The case is part of Naftogaz’s wider international effort to seize Russian assets over unpaid transit fees and wartime contract disputes.
3 months ago
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