A majority tribunal at the International Centre for Settlement of Investment Disputes awarded Caratube International Oil Company LLP USD 39.2 million plus interest for the unlawful expropriation of its oil contract rights by Kazakhstan.
The legal row between Stati, his son Gabriel, two family-controlled companies and the Republic of Kazakhstan has dragged on for years in various courts.
MEPs approved a landmark partnership deal with Kazakhstan, the EU’s first Enhanced Partnership and Cooperation Agreement with a Central Asian country.
An ICSID tribunal has ordered Kazakhstan to pay nearly US$25 million for the seizure of investments at the port of Aktau on the Caspian Sea.
An ICSID Arbitral Tribunal ordered Kazakhstan to pay Caratube USD 39.2 million in damages, plus USD 1,207,757.44, and well over 10 million USD in interest.
The dispute is based on the Energy Charter Treaty (ECT) and was initiated by Moldovan businessman Anatole Stati, his son Gabriel Stati and two companies owned by them.
The Svea Court of Appeal rejected the Republic of Kazakhstan’s request to declare invalid or set aside the arbitral award in Stati v Kazakhstan. The judgment cannot be appealed.
Discussions on a free trade agreement between India and the Eurasian Economic Union are at an advanced stage and an agreement could be reached as early as the end of the year.
Eligible Canadian investors with property confiscated by the government of Kazakhstan are now legally entitled to international arbitration under the Canada/USSR BIT.
The Eurasian Economic Union (EEU) between Russia, Belarus and Kazakhstan may establish a free trade zone with the Asia-Pacific countries, Russian Prime Minister Dmitry Medvedev said on Thursday.
Kazakhstan has a right to withdraw from the Eurasian Economic Union if its interests are infringed, President of Kazakhstan Nursultan Nazarbayev reminded in an interview to Khabar TV Channel.
The deal signed last week by Russia, Belarus, and Kazakhstan to create a Eurasian Economic Union is yet another countermeasure against US and European attempts to isolate Russia.
Negotiations on concluding a free trade agreement among the member-states of the Customs Union of Belarus, Kazakhstan, the Russian Federation and the countries of the European Free Trade Association (Iceland, Lichtenstein, Norway and Switzerland) are under way.
Peru’s Minister of Foreign Trade and Tourism, Magali Silva, said that Peru has started the first talks toward an eventual free trade agreement between Russia, Kazakhstan, Belarus, India, Indonesia, Turkey and Israel.
India and the Customs Union of Russia, Belarus and Kazakhstan will hold talks for a free trade agreement plus in June this year, Commerce Minister Anand Sharma and Chairman of Board of the Eurasian Economic Commission Viktor Khristenko decided during their talks here on Tuesday.
India and the Customs Union of Russia, Kazakhstan and Belarus will hold their first-ever talks on a free trade agreement with the arrival on Tuesday of Victor Khristenko, Chairman of the Board of the Eurasian Economic Commission.
Uzbekistan might join the free trade zone of the Commonwealth of Independent States by the end of May 2013, Director of the First Department of the CIS States of the Russian Foreign Ministry told reporters on 29 January before the start of ministerial consultations in the CIS Executive Committee, BelTA has learnt.
Kazakh city of Astana hosts the seventh round of negotiations on free trade agreement between the member states of the Customs Union (CU) and the countries of the European Free Trade Association (EFTA) on January 28-31, Kazakh Economy and Budget planning ministry reported on Monday.
With an aim to boost trade ties, India and Russia have agreed to jointly study a Comprehensive Economic Cooperation Agreement with Belarus-Kazakhstan and exuded confidence to acheive ambitious an trade target of $ 20 billion by 2015.
On 5 June 2012 the arbitral tribunal of the International Centre for Settlement of Investment Disputes (ICSID) adopted the decision on the case initiated by Caratube International Oil Company LLP (CIOC) against the Republic of Kazakhstan.