The Kuala Lumpur High Court today allowed the government’s application to block PetroSaudi International Ltd (PSI) and its director Tarek Obaid from using US$340 million (RM1.61 billion) linked to 1MDB.

The money, allegedly linked to the multimillion-dollar sovereign wealth fund scandal, is currently held in a client account at Clyde & Co LLP in the United Kingdom on behalf of PetroSaudi Oil Services (Venezuela) (PSOS-VZ).