The UNCITRAL arbitration initiated by Yevgeny Belavin against the Republic of Kazakhstan under the 1997 bilateral investment treaty between Kazakhstan and the Kyrgyz Republic, administered by the Permanent Court of Arbitration (PCA) in The Hague, has been terminated. The Ministry of Justice of Kazakhstan reported the decision, Kazinform writes.
According to the Ministry, Belavin had sought compensation exceeding $34 billion.
On September 1, 2025, the arbitral tribunal ordered the immediate termination of the proceedings, requiring Belavin to cover all costs of the Tribunal and PCA, as well as reimburse all expenses incurred by Kazakhstan during the case.
The Tribunal fully upheld Kazakhstan’s position and dismissed all allegations of wrongdoing against the state.
Earlier this year, Kazakhstan won two other major cases: in May, an arbitration in Paris over the construction of the Almaty–Khorgos highway, and in March, an international dispute with a Canadian company worth $65 million.
CentralasianLIGHT.org
September 3, 2025