In an interview with Bloomberg, Kazakhstan’s Deputy Prime Minister and Minister of Trade and Integration, Serik Zhumangarin said the country does not intend to “blindly follow” Western sanctions against Russia if they harm Kazakhstan’s economy.
According to Zhumangarin, Kazakhstan will comply with the sanctions, but will also consider the impact on the domestic market and the country’s economic interests. The statement responded to the concerns of Kazakh entrepreneurs, who are already facing difficulties due to disruptions in trade chains and logistical problems caused by the sanctions.
The Deputy Prime Minister emphasized that Western sanctions against Russia have caused disproportionate damage to his country. According to the official, Kazakh producers are suffering huge losses, while their former Russian customers have reoriented themselves to suppliers inside Russia and “continue to prosper.” Without the restrictions, “profits would have stayed in Kazakhstan,” the Deputy Prime Minister said. Instead, he said, they are now “going to those against whom” the West has imposed sanctions.
The Kazakh Deputy Prime Minister noted that the sanctions imposed against Russia had already hurt Kazakhstan’s economy. In particular, in terms of the breakdown of logistics chains and decreased exports to Russia, one of Kazakhstan’s largest trading partners.
Zhumangarin stated that Astana will continue to adhere to Western restrictions, but stressed that in the context of global instability, Kazakhstan is seeking to pursue a balanced policy to minimize the impact of sanctions at home and maintain stability in the domestic market. Kazakhstan adheres to an independent policy and continues to develop trade relations with other countries, such as Iran and China, Zhumangarin noted. In particular, Kazakhstan is studying the possibility of using routes across the Caspian Sea to expand trade to the south. Kazakhstan is also negotiating with Western countries to allow the sale of Kazakhstani goods to Iran, or to use the country for transit.
Kazakhstan’s position reflects its desire to maintain economic independence and minimize the risks associated with external sanctions. At the same time, Kazakhstan is currently complying with international rules and is in dialog with Western countries to find compromise solutions that will avoid further pressure on the economy.
Thus, remaining faithful to its international obligations, Kazakhstan seeks to protect its national interests, maintain stability, and develop its economy in a difficult foreign policy environment.
