Assets of Kazakhstan's National Fund remain frozen in Sweden
Baku, Azerbaijan, Jan. 25
By Ali Mustafayev – Trend:
Stockholm District Court decided on January 24, 2018 to uphold its previously adopted order to freeze the assets of the National Fund of Kazakhstan, located in Sweden, the press service of the Justice Ministry of Kazakhstan said in a statement.
Previously, the Swedish court imposed temporary restrictions on the disposal of assets of the National Fund in the form of shares of 33 Swedish companies worth nearly $100 million, as well as bank accounts of the Embassy of Kazakhstan in Sweden.
Later, Kazakh government removed restrictions from the accounts of the embassy.
"However, the Court did not take into account the arguments regarding the status of the assets, the legal status of the National Bank and its functions for managing the funds of the National Fund of Kazakhstan," the message said.
The National Fund and the Ministry of Justice of Kazakhstan will appeal this decision to the Court of Appeal of Sweden, proving the inviolability of frozen funds in accordance with international agreements.