In a landmark legal victory for Ukraine, a court in Kazakhstan has granted state energy giant Naftogaz permission to enforce a $1.4 billion arbitration award against Russia's Gazprom.
The ruling marks the very first time a foreign court has publicly recognized and permitted the enforcement of the massive penalty against Gazprom in a neutral third-party state, News.Az reports, citing Reuters.
The legal battle dates back to 2022, when Naftogaz initiated arbitration proceedings against the Russian gas major. Ukraine argued that Gazprom failed to pay agreed-upon fees for the transit and organization of natural gas transportation through Ukrainian pipelines, despite contractual obligations.
Gazprom aggressively fought the ruling, taking the battle all the way to Western Europe. However, the Swiss Federal Supreme Court recently rejected Moscow's final appeal to overturn the multi-billion dollar penalty, which also includes mounting interest.
With the Swiss avenue exhausted, Ukraine is now hunting for Gazprom's international assets to collect the debt. The court decision in Kazakhstan opens the door for Naftogaz to legally freeze or seize Gazprom-owned property, infrastructure, or financial holdings within Kazakh borders.
"The court's decision in Kazakhstan is another practical result in the process of recovering funds from Gazprom," Naftogaz CEO Serhiy Koretskyi said in a statement, confirming that the company is actively working to enforce the multi-billion dollar judgment across multiple global jurisdictions.
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