Termination of Arbitration Proceedings Brought by Evgenii Belavin Against the Republic of Kazakhstan

GRATA International is pleased to announce the termination of the UNCITRAL arbitration proceedings brought by Mr. Evgenii Belavin against the Republic of Kazakhstan under the Kyrgyzstan-Kazakhstan 1997 Bilateral Investment Treaty and administered by the Permanent Court of Arbitration ("PCA"). Mr. Belavin claimed compensation exceeding USD34 billion in the arbitration.

In an order dated 1 September 2025, the Tribunal (Prof. Gabrielle Kaufmann-Kohler (President), Prof. Bernard Hanotiau and Prof. Brigitte Stern) terminated the arbitration with immediate effect and ordered payment by Mr. Belavin of the entirety of the Tribunal's and PCA's costs, as well as the reimbursement of the full costs incurred by the Republic of Kazakhstan in the arbitration. In doing so, the Tribunal accepted all of the Republic's arguments, rejecting allegations of misconduct made against the Republic of Kazakhstan.

The Republic of Kazakhstan was represented by GRATA International in Astana and London (Samat Daumov, Ainura Takeyeva, Liya Akzhanova and Aliya Aralbayeva) and Enyo Law LLP (Evgeniya Rubinina, Boris Telyatnikov, Caroline Croft, Anna Riquetti and Artur Harabet).