The Ministry of Justice has succeeded to remove an attachment of the NBK accounts in the BNYM for USD 21.5 billion

The Ministry of Justice of Kazakhstan managed to achieve the removal of illegal attachment of the accounts of the National Bank of Kazakhstan in the Bank of New York Mellon in the amount of USD 21.5 billion, Head of Department, MaratBeketayev, said on June 14 during the reporting meeting in Nur‑Sultan.

“… In 2003-2018, the interests of the state in the amount of USD 18 billion were protected, and we also succeeded to remove the illegal attachment of the NBK accounts in the Bank of New York Mellon in the amount of USD 21.5 billion. Work is underway to compensate for the damage,”Marat Beketayev said in his report.

The accounts of the Sovereign Fund of Kazakhstan were frozen in 2017 during the litigation with a foreign investor. In addition, it was reported that the court allowed to attach the property of Kazakhstan in the form of the Samruk-Kazyna Fund assets with a nominal value of about USD 5.2 billion in KMG Kashagan B. V. The main objective of KMG Kashagan B. V. is to manage Kazakhstan’s share (16.88%) in the North Caspian Sea Production Sharing Agreement, within the framework of which the Kashagan, Kalamkas-Sea, Kairan, Aktoty and South-West Kashagan fields are being developed.

Foto: wsj.com