Mellon freezes $22 bn in Kazakh assets

ALMATY: The Bank of New York Mellon has frozen $22 billion in assets held by Kazakhstan’s National Fund over a lawsuit launched by Moldovan businessman Anatolie Stati and his companies against the Kazakh government, a source familiar with the case said on Thursday. The National Bank has in turn filed a lawsuit against BNY Mellon. A British court is due to deliver a judgment on that case on Thursday, the source said. The National Fund is replenished from oil export revenue and may be used as an emergency state funding tool. — Reuters