A Kazakh court has ruled to allow the forced recovery of $1.4 billion from Russia's Gazprom in favor of Ukraine's Naftogaz. This is reported by Dengi.ua with reference to Sergii Koretskyi.
It concerns the execution of an international arbitration award. This marks the first public foreign court decision allowing the enforcement of an arbitration award in a separate jurisdiction.
How Kazakhstan Authorized the Recovery of $1.4 Billion From Gazprom
The court ruling in Kazakhstan stands as an important milestone in Naftogaz's long-running legal battle against Gazprom. International arbitration ordered the Russian company to pay Ukraine $1.4 billion in compensation, but Moscow refuses to comply with the decision voluntarily. Now, Ukrainian lawyers have a legal mechanism to enforce the recovery of funds through Gazprom's assets located in Kazakhstan.
Why This Decision Is Important for Ukraine
This is the first time in history that a foreign jurisdiction has publicly ruled in favor of enforcing this specific arbitration award. Effectively, Kazakhstan has become the first country to officially support Ukraine at the national level regarding the collection of compensation from the Russian gas monopoly.
What Naftogaz Will Do Next
The company emphasizes that it continues systematic work to recover compensation from the Russian gas monopoly in accordance with the decision of the international arbitration court.
"Thanks to the legal team of Naftogaz for their professional and persistent work. Step by step," the statement said.
