Kazakhstan Court Allows Naftogaz to Collect from Gazprom
A court in Kazakhstan has granted Ukrainian energy firm Naftogaz permission to enforce a 1.4 billion dollar arbitration award against Russia's Gazprom. The ruling marks the first foreign court decision allowing enforcement of the 2022 claim regarding natural gas transportation services.
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A court in Kazakhstan authorized Ukrainian energy firm Naftogaz to enforce a $1.4 billion arbitration award against Russia-backed Gazprom. The ruling marks the first public foreign court decision allowing the recovery of funds from Gazprom in a third-party state. The Astana International Financial Centre Court, which operates as an extraterritorial venue independent of local Kazakh legislation, issued the order late evening on May 21.
