@tmrl.gov.tm

Indian Companies Interested in Turkmenistan’s Seaport

Issues concerning the establishment of cooperation in the field of maritime transportation, as well as the possibility of cargo transit through Turkmenbashi International Sea Port, were recently discussed by representatives of the Agency Turkmendenizdaryaollary with the Ambassador of the Republic of India in Turkmenistan, according the Agency’s website reports

During the meeting, the excellent potential for cargo transit offered by the Turkmenbashi port, which occupies a crucial location in the North-South transport corridor, was noted and encouraged a proposal by  representatives of “Turkmendenizdaryaollarya” to assist the Indian side in establishing an exchange of expertise in port management.

In its summary of the meeting, the report stated,  “The Indian Ambassador said that more than 30 Indian companies are interested in visiting Turkmenistan and familiarizing themselves with the opportunities of Turkmenbashi port. Following the meeting, the parties agreed to make every effort to develop cooperation in maritime transportation.”

@TJL

Virtual Standstill in Tajikistan’s Baljuvan Oil Production

Production of oil and gas in the Baljuvan district in the southern mountains of Tajikistan, has virtually ceased.

It previously  provided natural gas to the neighbouring districts of Khovaling, Vosei, and Kulyab,

According to the authorities, oil reserves in the area of Khatlon Oblast have all but disappeared.  Baljuvan’s oil wells currently reach a depth of 2,400 meters and for production to continue, wells must now be drilled to a depth of up to 6,000 meters .

Referencing  the situation, district chairman Bakhtiyor Safarzoda said, “Unfortunately, the same volume of oil is not being produced today as it was under the Union. The equipment here is already physically obsolete and worn out.”

Attempts to attract foreign investment in oil production in Baljuvan have now been ongoing for several years and a visit by Chinese investors to the wells two years ago, came to nought.

According to the chairman of the Baljuwan district, foreign companies which initially agreed to develop new oil wells, reversed their decision after familiarizing themselves with the field, its characteristics, and forecasts.

It should be noted that Tajikistan’s proven reserves of oil raw materials are insignificant, amounting to 2.2 million tons, and the country’s registered oil fields amount to just 28.

@afk.kz

How Sanctions Against the Moscow Exchange Will Affect Kazakhstan

The introduction of U.S. sanctions against the Moscow Exchange (MOEX) will not have legal consequences for the Kazakhstan Stock Exchange (KASE), because the Russian platform’s share in Kazakhstan’s capital is not large enough, KASE’s press service has reported. On June 12th, the Office of Foreign Assets Control (OFAC) of the United States put the Moscow Exchange on the SDN list, which means blocking its accounts in U.S. banks and depositories and banning cooperation for U.S. citizens and residents. The exchange has already announced that it will stop trading in dollars and euros in the foreign exchange section.

At the same time, contrary to popular belief, the entry of a company into the SDN list does not automatically lead to the introduction of secondary sanctions against all its partners, including those from third countries. Restrictions may be imposed on the subsidiaries of sub-sanctioned companies if they own at least 50% of their authorized capital. MOEX owns 13.1% of KASE shares, which means the latter is not considered a company under the control of the SDN-list participant.

“In this regard, Kazakhstan Stock Exchange and KASE Clearing Center continue to operate normally. Standard regulations will conduct trades, clearing, and settlements. KASE will consider the continuation of business relations with MOEX considering the sanctions restrictions,” noted the release from the Kazakhstan Stock Exchange.

In November last year, KASE head Alina Aldambergen said that the platform carefully analyzes the risks of sanctions. At the same time, she said that cooperation with the Moscow Exchange has been reduced to providing IT services.

Economist Rasul Rysmambetov previously wrote for The Times of Central Asia that he believes sanctions against several financial structures in Russia will not directly affect Kazakhstan. However, there are bound to be consequences for Kazakhstan from the actions of the Russian authorities.

“At some point, the Russian financial authorities will see that the pressure of sanctions is aimed not at complicating their operations, but at destroying their financial structure, and they may start taking symmetrical actions,” Rysmambetov wrote on social networks.

Rysmambetov believes the ruble’s depreciation will affect Kazakhstani entrepreneurs producing sugar, milk, and grain.

Image: ice.gov

Arrests of People from Tajikistan Who Crossed Border into U.S. Fuel Terrorism Worries

The reported arrests in the United States of eight people from Tajikistan with possible ties to a terror group has renewed concerns about extremism in the Central Asian country, which faced a backlash after the alleged involvement of some of its nationals in a terror attack in Russia in March.

U.S. officials have provided little detail on the arrests of the men who had crossed into the United States from Mexico last year, though the development added to tension over the surge in illegal crossings at the southern border. Immigration and border security are a major campaign issue ahead of the U.S. presidential election in November.

Patrick Lechleitner, the acting director of U.S. Immigration and Customs Enforcement, also known as ICE, was asked on Wednesday about reports that background checks on the Tajik men failed to turn up any cause for concern. In an interview with the NewsNation network, Lechleitner said another agency, the U.S. Customs and Border Protection, had first contact with the men as they crossed the border.

“Sometimes there is just no information on individuals. I mean, it’s quite common…  There is nothing,” he said. “There´s no criminal convictions, there’s no threat information or whatever on these individuals, or maybe these individuals are from an area that is particularly of concern, but that pops up later.”

ICE was collaborating with the FBI and “we went out and got” the suspects after becoming aware of concerns about them, Lechleitner said.

American law enforcement previously warned of the growing threat of terrorism on U.S. soil after the killing of about 145 people in an attack on the Crocus City Hall, an entertainment venue on the outskirts of Moscow, on March 22. The Islamic State group said it carried out the attack, and several people from Tajikistan were among suspects arrested by Russian authorities.

“Now increasingly concerning is the potential for a coordinated attack here in the homeland, akin to the ISIS-K attack we saw at the Russia concert hall a couple weeks ago,” FBI Director Christopher Wray told U.S. lawmakers on April 11.

ISIS-K is an acronym used for an affiliate of the Islamic State branch that operates in Afghanistan and has sought recruits from Central Asia, particularly Tajikistan and Uzbekistan.

The Crocus City Hall killings led to a backlash of suspicion against many Tajik migrants in Russia and difficult conditions for those trying to enter Russia in order to work, generating diplomatic tension between Moscow and Dushanbe and worries about the flow of remittances that are a vital part of Tajikistan’s economy.

Tajikistan has not commented publicly on the arrests of the Tajik men in the United States. The Tajik government has previously said it is doing what it can to combat terrorism, downplaying questions about whether some of its internal restrictions, including on religious expression, might be contributing to radicalization.

U.S. media reports, including from NBC News and ABC News, said the arrests occurred in New York, Philadelphia and Los Angeles this past weekend. The reports relied on anonymous sources, some of them identified as “officials.”

The men were arrested on immigration charges and face deportation, some reports said, suggesting there is not enough evidence to charge them with terror-related offenses.

The United States has worked with Tajikistan to counter the threat of terrorist infiltration, providing technical help and equipment to secure its 1,350-kilometer border with Afghanistan. Tajikistan has collaborated on the same issue with Russia.

In May, Tajik President Emomali Rahmon suggested to Russian President Vladimir Putin that his country was fated to be on the front lines of anti-terror efforts because of geography.

“You know where Tajikistan is located, and that it is a global problem,” Rahmon said.

Times of Central Asia

Times of Central Asia

 Stephen M. Bland is a journalist, author, editor, commentator and researcher specialising in Central Asia and the Caucasus. Prior to joining The Times of Central Asia, he has worked for NGOs, think tanks, as the Central Asia expert on a forthcoming documentary series, for the BBC, The Diplomat, EurasiaNet, and numerous other publications.
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Published in 2016, his book on Central Asia was the winner of the Golden Laureate of Eurasian Literature. He is currently putting the finishing touches to a book about the Caucasus.
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www.stephenmbland.com

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Cargo Transport from Uzbekistan to EU Countries via Latvia

According to the Ministry of Transport of Uzbekistan’s press service reports, Uzbekistan and Latvia have agreed to develop road freight transportation through Latvian ports.

The decision followed discussions by the Uzbek-Latvian Joint Commission on International Road Transportation on issues related to trade development, economic relations, and increasing the volume of international cargo transportation.

In a statement welcoming the move, the Ministry of Transport of Uzbekistan announced, “Today, the importance of the route passing through Latvian ports is growing and expanding trade relations between Uzbekistan and EU countries. In this regard, the meeting focused on the effective utilization of  Latvia’s port infrastructure potential. Head of the Public Transport Department of the Latvian Ministry of Transport Annija Novikova has expressed readiness to provide comprehensive assistance in creating favorable conditions for national carriers of Uzbekistan within the framework of cooperation,”

During the meeting, the parties agreed to provide special permits for organizing cargo transportation by road through Latvian ports and established a quota of permits for 2024.

@gov.kz

South Korean Corporation Bank to Open in Kazakhstan

Microfinance organization BNK Finance Kazakhstan, part of the Korean corporation BNK Financial Group Inc., has been granted  permission to transform into a second-tier bank.

The news was reported by the Agency of the Republic of Kazakhstan on Regulation and Development of Financial Market’s press service (ARFM).

BNK Financial Group Inc. is the largest South Korean financial group with assets of $129 billion and a national rating of “AAA.” The group has two banks with over 300 branches and “A2” international ratings.

In 2021, BNK MFI received a license to carry out microfinance activities. Since then, the company has significantly increased its performance and capabilities and now ranks 13th in terms of assets in Kazakhstan’s microfinance organizations sector.

The decision by the Agency for Regulation and Development of the Financial Market of Kazakhstan (ARDFM) to issue a permit for BNK’s voluntary reorganization into a second-tier bank was approved by a resolution on June 7.

As noted by the press service, the appearance of a new foreign bank in Kazakhstan’s financial market will strengthen competition in the banking sector and provide clients in Kazakhstan with financial services that adhere to international groups’ advanced corporate standards.

Earlier this month, during talks with the head of South Korea, Yoon Suk Yeol, Kazakhstan’s president  Kassym-Jomart Tokayev, cited Seoul as one of Astana’s most important strategic partners in the Asia-Pacific region. Korea ranks fourth in foreign trade turnover and is among Kazakhstan’s top ten largest foreign investors.