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From poverty to stardom: Sofia Loren's storyTruck collides with car on Xirdalan roadBaloq's red card suspended, can playMikhail Malkin wins World Cup seriesWashington DC issues red code for air pollution4 million euro theft at French museumParty of 150 in Germany ends in mass brawl and stabbingSOCAR Fuel Station in Ukraine Hit by Drone StrikeBaku residents live in fear of death - VIDEO150-year-old manor house abandonedFrom poverty to stardom: Sofia Loren's storyTruck collides with car on Xirdalan roadBaloq's red card suspended, can playMikhail Malkin wins World Cup seriesWashington DC issues red code for air pollution4 million euro theft at French museumParty of 150 in Germany ends in mass brawl and stabbingSOCAR Fuel Station in Ukraine Hit by Drone StrikeBaku residents live in fear of death - VIDEO150-year-old manor house abandoned
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Kazakhstan court rules in favor of Naftogaz

Kazakhstan court rules in favor of Naftogaz: Gazprom to pay $1.4 billion compensation. First foreign court to enforce international arbitration award.

Sarah Johnson
BySarah Johnson- Senior Editor
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Kazakhstan court rules in favor of Naftogaz
Photo: Prepared by Bond.az

A court in Kazakhstan has allowed the forced recovery of $1.4 billion from Russia's Gazprom in favor of Ukraine's Naftogaz.

Naftogaz CEO Sergey Koretskiy announced this on his Facebook page.

He stated that this is the first open foreign court decision allowing enforcement of an international arbitration award.

Gazprom failed to comply with the arbitration ruling and violated contractual obligations. Naftogaz continues legal proceedings to enforce the debt payment.

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