The Statis, indicted in Luxembourg in fall 2022 in connection with attempts to enforce the allegedly fraudulent award, have vigorously denied committing any fraud. They won a ruling in Sweden in 2023, clearing a path for $75 million held in a Swedish bank on behalf of the National Bank of Kazakhstan to be seized, with Anatolie Stati initiating a $6.8 billion claim against Kazakhstan in Moldova, alleging that the expropriation of his assets stemmed from blackmail and slander by ex-leaders of the country.
Future Implications for Kazakhstan
“We support the framework agreement and commend President [Kassym-Jomart] Tokayev’s decision to create a Fair Kazakhstan as part of his admirable reform objectives,” Daniel Chapman, CEO of Argentem Creek Partners, which according to Kazakhstan is an investment manager for funds that are creditors of Tristan Oil Ltd., an investment vehicle of the Statis, said in a statement on Tuesday.
“This settlement demonstrates that Kazakhstan is honoring its international treaty obligations and by so doing is opening its doors to increased investment and improving its economic growth potential. We welcome this new era for Kazakhstan,” Chapman added.
