Kazakhstan Gets $5.2B Freezing Order Lifted In Netherlands

By Caroline Simson (June 16, 2022, 8:04 PM EDT) -- A Dutch appeals court has canceled a freezing order over $5.2 billion of Kazakh assets that were being targeted as two Moldovan oil and gas investors try to enforce a half-billion-dollar award against the former Soviet state.

On Tuesday, The Hague Court of Appeal lifted the attachment on Kazakhstan's shares in KMG Kashagan BV, a Dutch entity through which the Kazakh state participates in an international consortium that holds a production sharing contract for the Kashagan oilfield, located in the Caspian Sea. The oilfield is considered to be one of the largest discovered in the last 40 years.

Those shares, held...

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