• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10849 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10849 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10849 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10849 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10849 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10849 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10849 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10849 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
11 December 2025

Kazakhstan And Hungary To Cooperate On Petrochemicals

The Hungarian oil and gas company MOL Group has shown interest in a joint petrochemical project using natural gas from Kazakhstan’s Rozhkovskoye gas condensate field, the Kazakh national oil and gas company KazMunayGas has announced.

The potential partnership was discussed at a February 7th meeting in Budapest between KazMunayGas’ deputy chairman, Serikkali Brekeshev, Hungary’s deputy minister of foreign affairs, Levente Magyar, and executives from MOL Group. 

The parties discussed cooperation in the field of petrochemicals and gas processing, including the development of the Rozhkovskoye field, supplies of Kazakh crude oil and gas condensate.

MOL Group expressed interest in the supply of Kazakh oil for processing at Hungarian oil refineries, as well as importing gas condensate from the Rozhkovskoye field.

The Rozhkovskoye gas condensate field was put into commercial operation in the West Kazakhstan region in December 2023. By 2040, the field is expected to produce 14.2bn cubic meters of natural gas and 7.1m tons of condensate. The field is operated by a joint venture of KazMunayGas (50%), MOL Group (27.5%), and China’s Sinopec (22.5%). 

Kazakhstan To Work With United Kingdom On Green Energy

At a February 6th meeting between Kazakhstan’s minister for energy, Almasadam Satkaliev, and the country’s British ambassador Kathy Leach, it was announced that the United Kingdom is ready to work with Kazakhstan on developing wind and solar energy projects. Great Britain may also support Kazakhstan in strengthening the country’s electrical networks, switching its coal-fired industrial plants to gas, and conducting research in the field of hydrogen energy, biogas and carbon capture technologies. These updates were provided by the Kazakh Energy Ministry.

The British embassy informed the ministry of the UK Fund for Climate, Energy and Water Security for Central Asia, totaling almost £20m ($25.2m), to be used over a three-year period.

At the meeting Mr Satkaliev presented Kazakhstan’s plans for gradually decarbonizing its economy, as part of its target to achieve carbon neutrality by 2060. Ambassador Leach emphasized that Kazakhstan joining the Global Methane Pledge, which president Kassym-Jomart Tokayev announced at COP-28 in December 2023, creates many more opportunities for the country to attract financing for low-carbon technology projects.

Keeping Central Asia Out of Conflicts: An Interview with Political Analyst Uran Usenov

In recent years the ability of diplomacy to ensure a stable world has been steadily declining, with the outbreak of more wars and international misunderstandings. The latest evidence of this trend is the conflict between Israel and Hamas, the war in Ukraine, as well as rising Iran-U.S. tensions. At the same time, ties between Iran and the countries of Central Asia have started to intensify. We spoke about this with Uran Usenov, a political analyst from Kyrgyzstan with extensive experience in international structures, including at the UN and the OSCE Special Monitoring Mission to Ukraine, where he worked between 2014 and 2022. Usenov is currently a Special Issues Consultant at the World Bank.

TCA: Recent years have seen an active expansion of relations between the countries of Central Asia and Iran. Is it dangerous or advantageous these days to have a friend who supports Palestine, and even attacks U.S. military targets?

UU: Indeed, Iran has recently intensified cooperation with Central Asian countries at a political level and even abolished visa requirements for some Central Asian countries. Such cooperation clearly carries political risks. Iran and the U.S. are basically in a cold war. And of course, any deepening of relations [with one side] will be regarded as taking a side in the conflict. In general, the countries of Central Asia have taken a cautious position in every [current] conflict. Regarding the conflict in Palestine, the Central Asian countries overall do not support Israel’s military operation. Iran is a large country in the region and an immediate neighbor of Central Asia – the issue of expanding cooperation is just a matter of time.

TCA: Could this draw Central Asia into the Israeli-Palestinian conflict, especially against the backdrop of last year’s call by Iranian President Ebrahim Raisi to Muslim countries to “arm Palestine?”

UU: I think this is an unlikely scenario. The countries of Central Asia generally support a multi-vector foreign policy. Despite Iran’s regional proximity, it is also important for Central Asian countries to maintain relations with the EU and the U.S., which are among the main contributors to the Central Asian economies.

TCA: We remember numerous stories of citizens of Central Asian countries, especially young people, joining ISIS in Syria, so it seems possible that at a certain stage in the Israeli-Palestinian conflict Central Asian people may again want to go and fight. How can this be prevented, or is it impossible?

UU: Of course, it is impossible to fully prevent citizens of Central Asia from fighting in any of these conflicts, especially the Palestinian-Israeli conflict. But I think this will not be widespread. In the criminal codes of Central Asian countries, there is an article against fighting as a mercenary, with real prison time for taking part in any unauthorized military conflict. Still, we understand that this rule will not stop certain people. At the state level, not enough educational and preventive work is carried out among young people, and this is a failure of state policy.

TCA: In the event of an escalation in one of the mentioned conflicts, is it possible that other “frozen” conflicts in the East will heat up? Syria, Afghanistan…

UU: Yes, there is such a risk. If you look at the Russia-Ukraine conflict, some “frozen” conflicts turned hot after it started. There is no direct connection, of course, but there are repercussions. There is probably some ideological link in all these conflicts. In fact, the world seems on the verge of World War III, and only the existence of nuclear weapons is holding back sides from starting it. There may be no winners if it breaks out.

TCA: Given this agenda in the information space, what needs to be done to prevent, even at a mental level, civil fragmentation on religious grounds?

UU: It’s a difficult question. I think there should be good government policy, especially for young people. The states of Central Asia must carry out the relevant educational and preventive work among young people. If young people are well-raised and educated, then I think [the problem of] their getting involved in dubious conflicts will disappear by itself. Of course, this requires resources and political will.

TCA: How do you see all these events playing out? What, in your view, is missing in the world today to stop such conflicts from occurring, or are they inevitable?

UU: Unfortunately, conflicts do not arise out of nowhere. They have deep roots. It often happens that the sides do not aim to resolve the problem peacefully and, because of this, the conflict turns hot. To resolve a conflict, you need good will and a real desire to resolve the problem. I hope prudence will prevail in addressing international problems. It is difficult to make predictions, but it seems that the current conflicts will not be resolved in the near term. The overall situation in the world is very challenging. It would be a major achievement if the current conflicts did not expand. As they say, a bad peace is better than a good war.

 

Uran Usenov is a political analyst and a Special Issues Consultant at the World Bank

Kyrgyz Authorities Confiscate $35 Million of Oligarch Matraimov’s Assets – Plan to Nationalize Another $50 million of Property

Kyrgyzstan’s State Committee of National Security (GKNB) has stated that following an investigation aimed at returning embezzled property into state ownership as part of a criminal case against former deputy chairman of the Customs Service, Raimbek Matraimov, the government has seized real estate worth $34,810,000.

At the end of January 2024, the authorities placed the infamous oligarch Matraimov, who has bounced in and out of custody since 2020, on a wanted list. Matraimov, who is popularly known as “Raimbek-million” for his multi-million dollar fortune has already pleaded guilty to embezzlement, and is now charged under the article “illegal deprivation of liberty” on suspicion of abducting and illegally incarcerating unnamed individuals. The former deputy head of the Customs Service previously had extensive connections in the Kyrgyz parliament and government, and went unpunished for years. In 2021, the U.S. authorities banned Matraimov and his family members from entering the country.

Head of the GKNB, Kamchibek Tashiev, accused Matraimov of creating a mafia clan. “Raimbek Matraimov has been put on a wanted list. All of his property… throughout Kyrgyzstan will go into the ownership of the state. We will not leave even a [plot] of land. He will no longer be Raimbek-million as he used to be. There will be no such thing as a clan. To destroy this clan, in the Osh region [alone] we fired about fifty people from state bodies,” Tashiev stated.

In 2019, the State Service for Combating Economic Crimes launched an investigation into corruption in the Kyrgyz Customs bodies. Earlier, documents had found their way into the hands of journalists showing that Matraimov had withdrawn about $700 million from the country through various banks over a period of seven years. However, investigators didn’t find Matraimov’s property abroad. In 2021, Matraimov was found guilty of corruption and convicted, but after paying a $22.5 million fine to the state, he was released.

Law enforcement has since uncovered more of the oligarch’s assets worth another $50 million. The GKNB is continuing to search for more assets obtained by criminal means in order to later transfer them to the state, according to the agency’s press service.

Matraimov’s whereabouts are currently unknown.

Kazakhstan Claws Back Another $98.5 Million From Nazarbayev’s Nephew

A well-known Kazakhstani businessman and a relative of former President Nazarbayev has returned another $98.5 million to the state’s coffers. This money was returned as part of the criminal case against Kairat Satybaldy, according to the Anti-Corruption Agency of the Republic of Kazakhstan.

“At present, the funds have been sent to the republican budget on account of compensation for damage caused to the state,” said the head of the agency, Askhat Zhumagali.

Satybaldy – a nephew of the first president of Kazakhstan – is a well-known businessman and former politician. He held positions in the Akimat of the capital, the National Security Committee, and developed business in the oil and gas industry, banking, the services sector, and trade.

Satybaldy was detained in March 2022, accused of abuse of power and embezzlement on a large scale at both JSC Kazakhtelecom and JSC Center of Transport Services. In September of that year, an Astana court found Satybaldy guilty and sentenced him to six years imprisonment, replete with the confiscation of property and deprivation of the right to hold office for ten years. In addition, he was relieved of the title of Major General of the National Security Committee (KNB) and other state awards.

In total, since the beginning of 2022, the Anti-Corruption Agency has returned $2 billion of illegally withdrawn assets, of which almost $1.5 billion belonged to Satybaldy. These include a stake in state company, Kazakhtelecom, companies in the railroad and telecommunications sectors, as well as jewelry worth more than $200 million. Additionally, as part of the criminal case, the state repossessed a stake in the Baisat Market, which had belonged to Satybaldy’s son.

The Agency noted that other investigations into Nazarbayev’s nephew on cases related to non-payment of taxes and the laundering of proceeds from criminal activities are ongoing. At the same time, in order to preclude the withdrawal of embezzled budget funds abroad, the anti-corruption service intends to introduce digital technologies, including mechanisms for “coloring” money, and the use of digital tender to fully track how state funds are spent.

“Long-term construction projects [and] untimely and low-quality construction are often associated with either embezzlement or withdrawal of money for further kickbacks to officials and other offenses,”Zhumagali stated. “Digital tenge as a tool will help us realize the [plan for] ‘coloring’ money. And if this money is allocated for salaries, it will not go in other directions. This whole procedure of money movement allocated from the budget becomes transparent, and all transactions must reach their goal; each tenge must be spent for a specifically envisaged purpose.”

In Kazakhstan, corruption continues to be one of the main factors hindering the country’s economic development. In 2023, the country ranked 93rd out of 180 states on Transparency International’s Corruption Perceptions Index with a raw score of 39 out of 100. However, this saw an improvement on the ranking of 101st registered on the 2022 index, and following the resignation of the government, on February 7th President Tokayev targeted stamping out corruption as a major tenet in his speech outlining the tasks before the nation.

Russian E-Commerce Giant Wildberries Heads for Tajikistan, Turkmenistan

The founder of the Russian e-commerce platform Wildberries Tatyana Bakalchuk has mentioned in an interview with RIA Novosti that the company is planning on entering the Tajikistan and Turkmenistan markets.

“We recognize that we must increase the geographic area in which we operate in order to sustain [our] growth rate. First, we are examining the bordering nations. We are already present throughout the nations that make up the EAEU (Eurasian Economic Union). We are now heading to the CIS (Commonwealth of Independent States) nations; for instance, we will be entering the market of Tajikistan and Turkmenistan,” Bakalchuk said.

Furthermore, RIA cited Bakalchuk as saying that the organization is presently attempting to establish a logistics network in Azerbaijan. “The Persian Gulf nations and the UAE market both pique our interest. Representatives from the Middle East, for instance, attended the forum ‘Russia – Islamic World’ in May, and many of them showed interest in our work. Thus, we will carefully consider the UAE and the Persian Gulf countries in this regard. We have already begun negotiations with a few nations.”

Wildberries currently operates in Uzbekistan, Kyrgyzstan, Belarus, Kazakhstan, and Russia. The company is an international online store that sells clothing, footwear, electronics, home furnishings and other items across thousands of categories. As of April 2023 it was the ninth-most visited e-commerce portal in the world, according to Statista data. The company was established in Russia in 2004 by husband-and-wife team Vladislav and Tatyana Bakalchuk.