Uzbekistan Government Default

Following direct negotiations with the Office of the Prime Minister of Uzbekistan, Romak delivered over 40 thousand tons of milling wheat to an Uzbek State Trading Company during July and August of 1996.  Since then the Government of Uzbekistan has refused to pay for this wheat, despite having been ordered to do so by both an independent Arbitration Panel and The High Court of Justice in London (Amount currently due).  As a signatory to the U.N. Convention on Acknowledgement and Enforcement of International Arbitral Awards, the Government of Uzbekistan is blatantly flaunting its international obligations by failing to honor these rulings.

Documents have been uncovered which show the Government’s failure to pay is part of an elaborate scam designed to defraud a foreign supplier in order to cover up the apparent theft of over $8 million from the National Bank of Uzbekistan.  These documents include falsified customs declarations for the wheat and written instructions from the Deputy Prime Minister of Uzbekistan, Mr. Khamidov, to the National Bank Chairman, Mr. Rustam Azimov, ordering that these non-original and false documents be accepted as “proof” of delivery.

Summaries of the case including links to supporting documentation:

A brief summary of the dispute

The scam behind the dispute

The role of the National Bank of Uzbekistan

Comments of National Bank Chairman Rustam Azimov

A summary of the explanations which have been put forth by the Uzbek side  

Involvement of the Uzbek judicial system

A sampling of press coverage

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