Freedom Holding exited the Russian business entirely. Freedom Finance IK and Freedom Finance Bank was bought by Maxim Povalishin, one of the company's founders. The transaction amounted to $140 million, of which Maxim Povalishin will pay $33 million of his own funds, and another $107 million will pay using the cash that Freedom Holding owed to the Russian company in order to pay off the Kazakh business, that is, to offset its own debt.