Latest development Jul 7, 2026
The AIFC Court revoked its recognition order.
The award
- Amount awarded
- $1.37B plus interest (take-or-pay transit fees)
- Current estimate
- More than $1.4B with interest (Naftogaz, March 2026)
- Award holder
- Naftogaz of Ukraine
- Respondent
- Gazprom (state-controlled)
- Forum
- ICC · Swedish law · seat Switzerland (Zurich, per one source)
Challenges
The Swiss Federal Supreme Court rejected Gazprom’s set-aside application (reported March 13, 2026).
Enforcement
Kazakhstan: the AIFC Court granted recognition on May 15, 2026. The Justice Ministry declined to enforce on May 25, and the AIFC Court revoked its order for lack of jurisdiction on July 7, 2026. Russia: St. Petersburg commercial court orders bar the arbitration and enforcement, with a penalty of up to $1.35B. Naftogaz says other enforcement actions are under way.
Recovered to date
None