Kazakhstan Justice Ministry responds to NCOC on UNCITRAL fine ban
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Kazakhstan's Justice Ministry issued a statement on July 19 responding to NCOC's claim that UNCITRAL banned collection of a fine. The ministry argued the tribunal's interim measure does not constitute a final ruling on the fine's validity.
The Dispute
NCOC, the operator of the Kashagan field, had claimed that the UNCITRAL tribunal prohibited Kazakhstan from enforcing a fine imposed by the country's antitrust authority. The fine, reportedly around $5 billion, relates to alleged violations in the Kashagan project. The Justice Ministry countered that the interim measure only preserves the status quo pending a final decision.
Ministry's Position
The ministry emphasized that the UNCITRAL ruling is procedural and does not prejudge the merits of the case. It stated that Kazakhstan retains the right to pursue the fine through legal channels. The statement also noted that the government is committed to resolving the dispute in accordance with international law.
What's Next
The UNCITRAL tribunal is expected to issue a final ruling on the fine's legality in the coming months. It remains unclear whether the interim measure will be lifted or extended.
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Kazakhstan Justice Ministry responds to NCOC on UNCITRAL fine ban
