People walk in Astana, Kazakhstan, on Monday, Jan. 23, 2017. (AP Photo/Sergei Grits)
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Moldovan businessman Anatolie Stati will ask bailiffs to sell a $5.2 billion stake in the Kashagan oil field owned by a Kazakh sovereign wealth fund if Astana refuses to pay a $500 million arbitration award, Stati's spokeswoman said Tuesday.Stati's press office said in a statement that he had secured "attachments" of other Kazakh assets, including Kazakhstan's stake in a Luxembourg-based company, Eurasian Resources Group, and trade receivables due Kazakhstan from some Luxembourg firms.Kazakhstan has refused to pay the Swedish arbitration award.Last October, Bank of New York Mellon froze $22.6 billion in assets held by Kazakhstan's National Fund, another sovereign wealth fund, following a lawsuit by Stati.
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