Russia Pressures Kazakhstan to Relax Banking Rules

Russia Pressures Kazakhstan to Relax Banking Rules

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 fr…