• KZT/USD = 0.00215
  • TJS/USD = 0.10810
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00215
  • TJS/USD = 0.10810
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00215
  • TJS/USD = 0.10810
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00215
  • TJS/USD = 0.10810
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00215
  • TJS/USD = 0.10810
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00215
  • TJS/USD = 0.10810
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00215
  • TJS/USD = 0.10810
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00215
  • TJS/USD = 0.10810
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
27 August 2026

Viewing results 1 - 6 of 498

Xi Jinping Heads to Bishkek as Kyrgyzstan Prepares to Host 21 Heads of State

Chinese President Xi Jinping will attend the Shanghai Cooperation Organization summit in Bishkek and make a state visit to Kyrgyzstan, Beijing has confirmed. The trip, which also includes a state visit to Egypt, will run from August 30 to September 3. The formal meeting of the SCO Council of Heads of State is scheduled for September 1. As many as 21 heads of state are expected in Kyrgyzstan during the week, according to presidential spokesman Askat Alagozov. Xi had long been expected to be among the leaders traveling to the Kyrgyz capital, but the formal confirmation turns attention from the guest list to the business that may be conducted around the main session. For Kyrgyzstan, the most consequential part of the visit may come in Xi's talks with President Sadyr Japarov rather than in the summit hall. The Times of Central Asia will be reporting from Bishkek as the delegations arrive, and from the opening ceremony of the World Nomad Games on August 31. Several visiting heads of state are expected to attend the ceremony, which will bring summit diplomacy and Kyrgyzstan’s biggest cultural showcase together on the eve of the SCO meeting. Kazakhstan’s President Kassym-Jomart Tokayev has already confirmed that he will be there. The spectacle will be considerable, but the substance is likely to emerge in the bilateral meetings, signed agreements, and final documents released around the September 1 summit. The State Visit and the Railway The state visit format gives Xi and Japarov a bilateral program alongside the summit. The most prominent economic issue is likely to be the China-Kyrgyzstan-Uzbekistan railway, a project discussed for decades that is now under construction across some of Kyrgyzstan's most difficult terrain. The Kyrgyz authorities put the railway’s construction cost at about $4.7 billion. China holds 51% of China-Kyrgyzstan-Uzbekistan Railway Company LLC, while Kyrgyzstan and Uzbekistan each hold 24.5%. Roughly half of the cost is being financed through a 35-year Chinese loan to the company. The summit could bring clearer evidence of how quickly construction is progressing. Any new financing, contracts, or cross-border arrangements would be more significant than another general statement of political support. The railway also places Kyrgyzstan inside a larger shift in regional trade. Commerce between China and the five Central Asian states passed $100 billion in 2025. Bishkek wants a larger share of that traffic and more of the value created along transit routes. Xi's visit offers Japarov an opportunity to press the case for logistics hubs, local employment and supporting roads rather than transit alone. The Documents Behind the Ceremony The SCO's national coordinators have been finalizing the outcome documents in the weeks leading up to the summit. Under Kyrgyzstan’s chairmanship, the SCO has emphasized regional stability and economic cooperation, alongside digital transformation, cyber threats, environmental policy, and cultural exchange. SCO decisions require consensus, which tends to soften disagreements in final communiqués. Any agreements that specify funding, deadlines, or responsibility would give the Bishkek package more weight. Bilateral Meetings Around the Summit The summit will bring...

Pannier and Hillard’s Spotlight on Central Asia: New Episode Out Now

As Managing Editor of The Times of Central Asia, I’m delighted that, in partnership with the Oxus Society for Central Asian Affairs, we are the home of the Spotlight on Central Asia podcast. Chaired by seasoned broadcasters Bruce Pannier of RFE/RL’s long-running Majlis podcast and Michael Hillard of The Red Line, each fortnightly instalment will take you on a deep dive into the latest news, developments, security issues, and social trends across an increasingly pivotal region. This week, the team is covering one of Central Asia's leaders openly calling on Vladimir Putin to bring the war in Ukraine to an end, Russia moving to tear up a number of its military agreements with two Central Asian states, upcoming elections in Kazakhstan and Kyrgyzstan, a deepening crackdown on opposition media and journalists in Kazakhstan, and a growing wave of fighting in northern Afghanistan that is already beginning to spill across the border into neighbouring Tajikistan. Before turning to our main story this week, where we look back at the decade since Islam Karimov's death and Shavkat Mirziyoyev's rise to power, and ask just how much Uzbekistan has changed over the ten years since. Special guest: Central Asia journalist and author of Silk Mirage: Through the Looking Glass in Uzbekistan, Joanna Lillis.

Tajikistan Seeks 2.55 Million Tons of Iranian Oil and Fuel as Russian Supplies Falter

Tajikistan has asked Iran to supply 2.55 million metric tons of crude oil and petroleum products as Dushanbe looks for alternatives to increasingly unreliable Russian fuel supplies. The request includes 2 million tons of crude oil, 300,000 tons of diesel, 150,000 tons of gasoline, and 100,000 tons of aviation fuel, according to Tajikistan’s Ministry of Transport. The ministry said the volume would require about 51,000 railway tank cars. The proposal was discussed in Tehran on August 15 during talks between Tajik Transport Minister Azim Ibrohim and Iran’s Minister of Roads and Urban Development Farzaneh Sadegh. It is not yet a purchase agreement, and Tajikistan has not announced a delivery timetable, price, or supplier. The timing, however, places the proposed trade directly inside a worsening sanctions environment. On August 20, U.S. President Donald Trump threatened economic consequences for countries providing support to Iran, promising “Economic Warfare and Isolation on an unprecedented scale.” Washington has not announced specific new measures linked to that statement. Significant purchases and transport of Iranian petroleum already carry U.S. sanctions exposure. Executive Order 13846 authorizes sanctions against people and financial institutions involved in significant transactions for the purchase, sale, transport, or marketing of petroleum from Iran. A temporary U.S. authorization covering Iranian crude and petroleum products, issued in June, was revoked on July 7, with its wind-down period ending on July 17. Russia’s Fuel Crunch Reaches Tajikistan Dushanbe’s request to Iran is driven by a more immediate problem: dependence on Russian fuel. In 2025, Tajikistan imported about 1.7 million tons of fuel and lubricants, more than 1.2 million tons of which came from Russia. Tajik officials said in July that Russia supplied 84% of imported petroleum products. That dependence has become more difficult to manage as Ukrainian drone attacks have reduced Russian refinery output and forced Moscow to protect its domestic market. Russian fuel shortages began spilling into Central Asia in early summer. Tajikistan’s fuel imports fell sharply in July, pushing Dushanbe to seek additional supplies from China, Kazakhstan, Turkmenistan, Iraq, and Iran. Russia still accounted for 72.3% of fuel supplied to Tajikistan in the first half of the year, while talks with Kazakhstan had reached presidential level by the end of July. The pressure was already visible in Dushanbe. In early July, diesel disappeared from some filling stations, while others imposed sales limits. On July 10, Energy and Water Resources Minister Daler Juma said Tajikistan had roughly two months of petroleum reserves and was seeking alternative suppliers. The scale of the request is striking. At 2.55 million tons, it exceeds Tajikistan’s total fuel and lubricant imports in 2025, although 2 million tons of the proposed volume is crude oil rather than finished fuel. The Ministry of Transport has asked Iran to help organize dedicated tanker trains and create a “green corridor” giving Tajik fuel cargoes priority on the Iranian rail network. Further transit arrangements would still be needed because Tajikistan and Iran do not share a border. The Refinery Question The large crude component also highlights...

Trump’s New Threat Against Iran Collides With Central Asia’s Economic Interests

U.S. President Donald Trump has threatened economic consequences for any country that continues to provide support to Iran, promising Tehran “Economic Warfare and Isolation on an unprecedented scale.” Washington has not yet announced specific new measures. For Central Asia, the warning comes as economic and transport links with Iran are developing. Kazakhstan is building its own terminal at Iran’s largest port, Tajikistan is discussing fuel purchases and new transport routes, Uzbekistan is trying to protect trade that passes through Iran, and Turkmenistan is expanding transport and energy cooperation with Tehran. Each country has its own reasons for developing these ties, but they share one concern: for landlocked Central Asia, Iran provides one of the few overland routes to the Persian Gulf and the Indian Ocean. Washington’s attempt to tighten Iran’s economic isolation therefore affects not only the region’s relations with Tehran, but also its own plans to diversify trade and transit. None of this means that Central Asian governments are prepared to disregard U.S. sanctions or enter into a political confrontation with Washington on Tehran’s behalf. The threat of secondary restrictions could cause banks, carriers, and private companies to withdraw from individual transactions even without formal decisions by their governments. Trump has not yet explained exactly what instruments he intends to use to enforce the isolation he announced. Kazakhstan Looks to the Persian Gulf Iran intensified its work with Central Asia well before Trump’s latest threat. In mid-June, the Iranian Minister of Roads and Urban Development Farzaneh Sadegh visited Astana. In talks with Kazakhstan’s Deputy Prime Minister Serik Zhumangarin, the two sides noted that bilateral trade had increased by 26.4% in 2025 to $430.2 million. Astana and Tehran now want to raise it to $3 billion, using, among other things, the free trade agreement between Iran and the Eurasian Economic Union, of which Kazakhstan is a member. The plans go beyond trade. Freight traffic along the International North-South Transport Corridor, which links Russia and Central Asia with Iran and Persian Gulf ports, rose by 12% in 2025 to 3.5 million metric tons. Rail freight between Kazakhstan and Iran also increased by 69%. Astana’s main interest lies even farther south. Iran has allowed Kazakhstan to establish its own transport and logistics terminal at Shahid Rajaee in Bandar Abbas, the country’s largest commercial port. On June 28, the two sides signed a Build-Operate-Transfer agreement. It runs for 27 years, with two years allocated for construction and another 25 for operation. Commercial operations are scheduled to begin in the project’s third year. For Kazakhstan, this is more than simply an overseas terminal. Its Foreign Ministry explicitly links the project to opening access for Kazakh cargo to markets in the Persian Gulf, South and Southeast Asia, and East Africa. In July, Foreign Minister Yermek Kosherbayev again reaffirmed Astana’s interest in the project during a visit to Iran. The ministry also cited a 26.4% increase in bilateral trade in 2025 to $430.2 million. Astana is also considering another Iranian port, Chabahar, on the Indian Ocean....

Opinion: Tajikistan’s Digital Finance Boom Faces Its Next Challenge – Keeping Money Digital

Tajikistan’s e-wallet numbers are striking. As of June 30, 2026, 28 credit financial institutions reported 19.8 million electronic wallets, up 25.9% from a year earlier. In the first half of 2026, e-wallets were used for 14.6 million non-cash transactions worth 3.6 billion somoni. But those figures should not be read as if 19.8 million people are actively using wallets. The National Bank of Tajikistan’s published aggregate data do not state how many wallets belong to unique users or how many are active. Nor do they show how usage is distributed among them. Without that denominator, the headline figure tells us much less about actual use. Tajikistan has clearly expanded digital access. It now needs a clearer picture of usage and stronger reasons for people and businesses to keep money inside the digital system. I call this the shift from digital access to digital retention. The headline number is 19.8 million wallets out of an official population of 10.721 million as of January 1, 2026. The more useful number would be how many are meaningfully active. Do Not Confuse Registration With Usage A registered wallet is an access point, not proof of financial behavior. One person may hold several wallets, and some may sit dormant. Usage may also be concentrated among a smaller group of frequent users. Without active-wallet and unique-user data, none of those possibilities should be assumed as fact. What we can say is that non-cash activity is growing. The National Bank reports that cashless payments for goods and services made with electronic payment instruments reached 41% in the first half of 2026, 13 percentage points higher than a year earlier. It also reports 9,425 POS terminals at trade and service points and 33,620 QR codes. That 41% figure covers electronic payment instruments, including bank cards and e-wallets. It is not an e-wallet usage rate. To understand how wallets are actually being used, Tajikistan needs a clearer view of active wallets, transaction frequency, and what happens to money after it enters a digital account. Trust Is Part of the Infrastructure For many people, the move from cash to bank cards was already a significant behavioral change. They learned to trust money represented by a balance on a screen rather than notes in a hand. Wallets, QR payments and app-based financial services require another layer of trust. Users need to know where their money is and whether a payment went through. They also need a clear route when something goes wrong. Fees should be easy to understand. This is why simplicity is part of financial trust, not merely user experience. Tajikistan’s Financial Literacy Program for 2026–2030 makes the same connection at a policy level. It links financial literacy and consumer protection with public confidence as digital financial services expand. A good digital-finance service should be usable by ordinary people without making money feel harder to understand. Users should not need fintech expertise to trust the product. Merchants Need a Reason Not to Cash Out Consumers are only one part of...

Kazakhstan and Kyrgyzstan Give Conflicting Accounts of Four-Country Blackout

Kazakhstan and Kyrgyzstan have given differing accounts of what triggered the August 14 blackout that cut electricity across swathes of Central Asia. Three days later, the initiating event remains unresolved, and the times released by the two sides do not fit neatly into the same sequence. Kazakhstan’s national grid operator KEGOC says two hydrogenerators at Kyrgyzstan’s Toktogul Hydropower Plant, with a combined capacity of 600 MW, disconnected at 2:37 p.m. Kazakhstan time. KEGOC said the sudden loss of generation overloaded the North-East-South transit corridor, separating southern Kazakhstan from the rest of the national grid and the interconnected systems of Kyrgyzstan, Uzbekistan, and Tajikistan. A special commission is investigating the causes. Meanwhile, Kyrgyzstan’s National Electric Grid has given a different chronology. It said that at 3:34 p.m. Kyrgyzstan time, an external disconnection occurred on a high-voltage line linking the northern and southern parts of Kazakhstan’s power system. The Central Asian network then split into an isolated section, and Kyrgyzstan temporarily operated separately while automatic protection systems worked to protect equipment. The one-hour difference between the countries’ clocks makes the discrepancy clearer. Kazakhstan has used UTC+5 nationwide since 2024, while Kyrgyzstan uses UTC+6. That puts Kyrgyzstan’s reported line disconnection at 2:34 p.m. Kazakhstan time, three minutes before KEGOC’s stated 2:37 p.m. Toktogul shutdown. The two times may describe different stages of a fast-moving cascade, but they do not establish the same starting point. A third timestamp complicates the sequence. Alatau Zharyq Company said three 500 kV KEGOC transmission lines shut down at 2:38 p.m., and that those lines triggered automatic load-shedding and frequency protection in Almaty and the surrounding region. Taken together, the public statements leave a sequence of 2:34 p.m., 2:37 p.m., and 2:38 p.m. that investigators will need to reconcile. TCA reporters in Almaty and Bishkek experienced power cuts, while local media reported outages in Dushanbe, Khujand, and southern parts of Uzbekistan. In Kazakhstan, the disturbance affected consumers in the Zhambyl, Turkistan, Kyzylorda, Zhetysu, and Almaty regions, with further restrictions in Karaganda, Ulytau, and Abai. KEGOC said supplies were restored across the affected regions later that afternoon. The four-country impact reflects how tightly the systems are connected. Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan operate in parallel through the Central Asian power system. Cross-border links allow operators to share electricity and reserve capacity, but also mean that a sudden loss of generation or a major transmission line can be felt beyond one national grid before protection systems isolate the disturbance. Central Asia has been here before. In January 2022, a major blackout hit southern Kazakhstan, Kyrgyzstan, and Uzbekistan. The event also involved a sharp imbalance on the regional network and the separation of Kazakhstan’s northern and southern grids. Its precise starting point was disputed in the immediate aftermath. The regional grid dates to the Soviet period. Uzbekistan later withdrew from the old electricity ring, leaving Tajikistan largely isolated for years. Regional links have since been rebuilt; Tajikistan began reconnecting to the unified system in 2024. An Asian Development Bank project is adding...