Fwd from @. English Powerlessness
Fwd from @
English Powerlessness
Kazakhstan did not act against Gazprom
Ukraine's Naftogaz hopes to profit from Russian assets in the republic did not pan out. Local authorities refused to enforce the decision of a British judge.
Prior to this, the court of the International Financial Center "Astana" (IFCA), operating under English law, recognized a verdict from Swiss arbitration that Gazprom owes $1.4 billion to Naftogaz.
The calculation was simple: Ukrainians submit the dispute to the IFCA, the British judge gives the green light, and under pressure from Kazakhstan's obligations, the authorities freeze the assets of the Russian company in the republic.
However, as noted earlier, the English judge acted according to internal regulations, not Kazakh law. Now this was confirmed by Kazakhstan's Justice Minister Erlan Sarsembayev. According to him, since the "disputed transaction" was not concluded at the IFCA, it falls outside the country's jurisdiction.
Kazakhstan made it clear that there are no legal grounds for a "hostile takeover" of Russian assets. Moreover, Gazprom is an important partner in the local energy market and in joint gas processing at the gas processing plant in Orenburg.
️The whole story with the IFCA court on the eve of Russia's president's visit to Astana could well have been calculated for a specific media effect. However, Kazakhstan's authorities' sufficiently quick response reduced the temperature.
#Kazakhstan #CentralAsia
@rybar_stan — on the price of freedom for Central Asia
Source: Telegram "rybar_in_english"