Kazakhstan says it will not enforce ruling in Gazprom–Naftogaz case

Kazakhstan says it will not enforce ruling in Gazprom–Naftogaz case

Photo: depositphotos

Kazakhstan says it will not enforce the court decision from the Astana International Financial Centre (AIFC) in the dispute between Naftogaz of Ukraine and Gazprom at this stage, arguing that the ruling is not yet final and has not completed all legal procedures.

According to Kazakhstan’s Justice Minister Erlan Sarsembayev, the decision was issued in a unilateral procedure without the participation of the defendant and therefore cannot be considered final. He noted that the defendant still has the right to file a motion to annul the ruling, after which a full hearing involving both parties would take place.

The position was reported by Tengrinews.

The ministry also stressed that Kazakhstan will not serve as a “transit platform” for enforcing decisions that have no direct legal connection to the AIFC’s jurisdiction.

Officials further explained that enforcement of foreign arbitral awards in Kazakhstan is governed by national procedural law, meaning any compulsory execution must go through domestic courts under the Civil Procedure Code.

Previously, the AIFC court allowed Naftogaz of Ukraine to seek enforcement of approximately $1.4 billion from Gazprom, while earlier a Swiss arbitration tribunal ordered Gazprom to pay $1.37 billion, a decision later upheld by the Swiss Supreme Court.

banner

SHARE NEWS

link

Complain

like0
dislike0

Comments

0

Similar news

Similar news

Photo: depositphotos American consumers and businesses already facing elevated prices could come under further pressure as trade tensions between the United States and Canada escalate, the New York

Photo: depositphotos The National Bank of Ukraine (NBU) has determined that Mykola Hladyshchenko, chairman of the supervisory board of state-owned Sense Bank, does not meet the regulator’s requireme

Photo: youtube/Новини.LIVE Ukraine cannot directly compensate businesses for losses caused by Russian attacks because the state lacks the necessary financial resources, Verkhovna Rada Finance Commit

Photo: Getty Images Oil prices rose for a fourth consecutive day as conflicting statements from the United States and Iran fueled uncertainty over whether the Strait of Hormuz is open to shipping, R

Photo: depositphotos Poland’s average gross salary rose to nearly PLN 10,000 at the beginning of this year, equivalent to more than UAH 120,000 at the August 17 exchange rate. However, most workers

Photo: depositphotos Ukraine’s National Bank has eased restrictions on access to funds held in Ukrainian bank accounts and their use abroad. Starting August 11, Ukrainians can spend up to UAH 200,

Photo: 24 ОМБр імені короля Данила/Facebook President Donald Trump said Thursday that the United States would impose tariffs on imported drones and drone components, including products from some key

Photo: Getty Images Ukraine is considering transporting grain by rail through Moldova to Romania’s port of Constanta as Russian attacks on Ukrainian ports and the Black Sea shipping corridor increas