Why It Matters

Freedom Holding Corp. is betting big on Congress repealing Cold War-era trade restrictions blocking U.S.-Kazakhstan commerce. The company’s lobbying push centers on passing HR 1024, which would grant permanent trade status to Kazakhstan—a move with major stakes for American supply chains.

Kazakhstan holds massive reserves of uranium, copper, and rare-earth minerals that the U.S. desperately needs to counter Chinese dominance. Currently, the Jackson-Vanik Amendment forces annual congressional reviews instead of granting stable trade relationships, freezing investment and blocking long-term supply contracts.

The company’s strategy: hire elite trade lawyers from Mayer Brown LLP and capitalize on bipartisan support from members like Senator Steve Daines.

By the Numbers

Freedom Holding Corp. paid Mayer Brown LLP $160,000 in Q3 2025, part of a sustained campaign that began in 2024. The company has spent $780,000 cumulatively across nine filings, with Mayer Brown capturing $690,000 of that total.

Freedom Holding retained two Mayer Brown lobbyists: Jessica Sue Woolley, who brings four years of House staffer experience, and Matthew C. Bernstein, who has lobbied since 2003 on financial services for clients like Citizens Financial Group Inc.

The Q3 spending matches typical quarterly outlays, indicating sustained investment rather than escalation. The company supplemented Mayer Brown with Chartwell Strategy Group LLC for $90,000 in 2025.

The Agenda

Freedom Holding Corp. is lobbying on three interconnected issues: financial services regulation, critical minerals development in Kazakhstan, and passage of HR 1024 – US-Kazakhstan Trade Modernization Act.

The trade bill would grant Kazakhstan Permanent Normal Trade Relations status by repealing the Jackson-Vanik Amendment. Freedom Holding also seeks to advance U.S. cooperation on critical minerals extraction—particularly uranium, copper, and rare earth elements—where Kazakhstan ranks among global leaders.

Congressional conditions appear favorable. Senator Steve Daines (R-MT) has publicly called for ending Jackson-Vanik restrictions, while Representatives Jimmy Panetta (D-CA) and Dina Titus (D-NV) reintroduced HR 1024. Committee hearings have emphasized critical minerals supply chain resilience and reducing reliance on China.

Broader Context

Congress is pursuing an urgent strategy to counter China’s dominance of critical minerals supply chains. The U.S. currently faces severe supply vulnerabilities, with China controlling roughly 60 percent of global rare-earth production and 90 percent of refining capacity.

Kazakhstan has become the centerpiece of this diversification strategy. The country leads global uranium production at 39 percent of worldwide output and recently announced a massive rare-earth discovery. Commerce Secretary Howard Lutnick signed a critical minerals memorandum with Kazakhstan during the first-ever C5+1 summit at the White House in November 2025.

H.R. 1024 would remove Kazakhstan from Jackson-Vanik coverage and unlock long-term supply contracts. The window appears to be narrowing as China invested $24.3 billion in Central Asian infrastructure during just the first half of 2025.

Between The Lines

Congressional momentum is building behind Freedom Holding’s objectives. Representatives Bill Huizenga (R-MI) and Sydney Kamlager-Dove (D-CA) issued a bipartisan letter urging the administration to repeal Jackson-Vanik restrictions. Senate Foreign Relations Committee hearings featured repeated advocacy for repealing restrictions, while House Foreign Affairs Committee hearings focused on "breaking China’s chokehold on critical mineral supply chains."

This convergence of security interests and commercial opportunity has created unusually receptive conditions for Freedom Holding’s trade modernization agenda.

The Bottom Line

Freedom Holding Corp. is pushing to grant Kazakhstan permanent normal trade relations status through a well-timed lobbying campaign that aligns with Congress’s urgent push to diversify critical mineral supplies away from China. With $780,000 invested across nine filings since 2024 and bipartisan support from key lawmakers, the company appears positioned to capitalize on favorable political winds around Kazakhstan trade normalization.

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