Russia Pressures Kazakhstan to Relax Banking Rules ...Middle East

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Russia Pressures Kazakhstan to Relax Banking Rules
source : OILPRICE ( Middle East ) () 74
Russia is upset that commercial banks in Kazakhstan are exhibiting “excessive caution” in settling payments and extending loans involving companies doing business with Moscow.  A report published by the Russian media outlet RTVI claimed that entities in Kazakhstan that do business with Russia are the victims of “over-compliance,” which hinders legitimate cross-border commerce. A major source of discontent is “the fact that Kazakh banks demand from their clients ‘letters of guarantee’ on the refusal…

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