The Astana International Financial Center (AIFC) Court of First Instance on Tuesday 7 July annulled the previously issued order recognizing and enforcing the ICC arbitration award, which recovered $1.4 billion from Russia’s Gazprom for Ukrainian national joint-stock company Naftogaz.
In the new decision, the court decided to cancel the previous decision, noting that the court lacks jurisdiction to recognize and implement the arbitration award issued by the International Chamber of Commerce.
“Neither Article 13 nor Article 14 of the Constitutional Law defining the jurisdiction of the AIFC Court constitute a sufficient legal basis for the enforcement of the arbitral award rendered by the ICC, the place of arbitration being Switzerland, and not the Republic of Kazakhstan or the International Arbitration Center of the AIFC,” cable“Conflict Resolution Club” channel.
On March 13, the Swiss Federal Court rejected Gazprom’s appeal in the case of paying more than $1.3 billion to Naftogaz. According to the materials of the case, in 2019 the companies concluded a five-year contract for the transportation of Russian gas through the territory of Ukraine. In the fall of 2022, the Ukrainian company appealed to the arbitration court, claiming that Gazprom had not paid for gas transportation services on time.