Kazakhstan Wins Arbitration Case Against Kyrgyz Businessman

Kazakhstan has won an international arbitration case against Kyrgyz businessman Yevgeny Belavin, who had sought more than $34 billion in compensation, Orda.kz reports.

Belavin’s claim was based on a 1997 bilateral investment agreement between Kazakhstan and Kyrgyzstan, under which he argued his investor rights had been violated.

On 1 September 2025, the Arbitration Tribunal dismissed his demands in full and ordered the proceedings closed.

The proceedings were conducted under UNCITRAL rules and administered by the Permanent Court of Arbitration in The Hague. Belavin was ordered to cover all Tribunal and PCA costs, as well as reimburse Kazakhstan’s expenses, including legal fees, Kazakhstan’s Ministry of Justice said.

Kazakhstan’s interests were represented by the law firm Grata International and UK-based Enyo Law LLP, which specializes in international arbitration.

Original Author: Artyom Volkov