This month President signed the Law On Asset Recovery. Most of it will come into force in September. And more Kazakh legislature is coming this way in the next few weeks including the Rules on Monitoring, the Regulations on Asset Recovery Committee, etc. This is good news and even a subject of pride as on 7 January 2022 I was writing the Statement that went out on the Secretariat's website (https://lnkd.in/dwPKVq9U) where it was first mentioned that the country needs recovery of the corrupt deals proceeds. Before the British MP, Margaret Hodge and even before our President which raised the topic only in February.
Some time ago Chatham House organised conference on prospects of Kazakhstan's economy where I was invited to discuss with other experts:
- the declared Asset Recovery initiative;
- expected disputes over oil contracts including Production Sharing Agreements;
- Kazakhstan's mutual investment agreements with United States of America and Peoples Republic of China;
- underlying reasons for asset recovery;
- perspective events;
- significance of returning substantial amounts of illicit capital to Kazakh economy; as well as
- Kassym-Jomart Tokayev limiting control of the Nazarbayev clan over the country's resources.
Might be of interest including prognosis on disputes around biggest oil contracts that actually are taking place right now in international arbitration.