Kazakhstan refused to collect $1.4 billion from Gazprom in Naftogaz lawsuit
The Ministry of Justice of Kazakhstan has announced that it will not facilitate the recovery of about $1.4 billion from Russia’s Gazprom under an arbitration award in the Naftogaz case. The department emphasized that the decision of the Astana International Financial Center court is procedural in nature and not final.
This is reported by Forbes .
Kazakhstan’s Justice Minister Yerlan Sarsembayev said the ruling was made unilaterally without the defendant’s participation. According to him, Gazprom has the right to appeal the decision within the established time limits, after which the case should be considered with the participation of both parties.
“Kazakhstan will not be used as a “transit platform” for the execution of decisions that have no legal connection with its jurisdiction,” said Yerlan Sarsembayev.
He noted that the case lacks key grounds for consideration in the court of the Astana International Financial Center. In particular, Gazprom is not a member of the center, the contract was not concluded within its borders, and the parties did not agree to transfer the dispute to this jurisdiction.
Sarsembayev also recalled that Kazakhstan is a party to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, however, the enforcement of such awards is carried out in accordance with national legislation.
According to the minister, the Civil Procedure Code of Kazakhstan provides that an application for enforcement is filed at the place of consideration of the dispute, the place of registration of the debtor, or the location of his property.
“The process is not yet complete,” Yerlan Sarsembayev emphasized.
We will remind you that the Federal Supreme Court of Switzerland has finally rejected the application of the Russian company Gazprom to annul the arbitration award in favor of NJSC Naftogaz of Ukraine. Thus, the Russian side must pay the Ukrainian company more than $1.4 billion in debt for services for organizing the transportation of natural gas and interest.
Also follow “Pryamim” on Facebook , X , Telegram , and Instagram.