Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Courts Nullify Kazakh Bank Loans

Two arbitration courts in Moscow and Kazan have canceled two bank loans provided to Russian companies by a Kazakh bank.

The courts ruled that the loans provided by Kazakhstan's Halyk bank were legally void because the bank does not have Russian banking license, Kommersant reported.

The bank's deputy chief Saule Kishkimbayeva said "unprecedented" rulings may jeopardize foreign investment in Russian companies.

Experts fear that the precedent set by the decisions may further erode trust in the Russian legal system among the business community, which has been increasingly relying on British law in concluding business contracts.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more