• KGS/USD = 0.01150 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09158 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01150 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09158 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01150 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09158 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01150 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09158 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01150 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09158 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01150 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09158 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01150 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09158 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01150 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09158 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
14 December 2024

Viewing results 1 - 6 of 53

Capital Over Confinement in Sentencing of Raimbek “Millions” Matraimov

Raimbek Matraimov, infamously known as “Millions” for his tremendous wealth, once wielded immense power in Kyrgyzstan. Rising to prominence as deputy chairman of Kyrgyzstan’s Customs Service from 2015 to 2017, Matraimov’s tenure became synonymous with corruption and organized crime. His activities, alleged to have funneled monumental sums of money through shadowy operations, fashioned him not only as a dominant figure within the Customs Service but also as a key player in Kyrgyzstan’s criminal underworld.   The Rise of Raimbek Matraimov During his time in the Customs Service, Matraimov amassed an extraordinary fortune. His influence extended beyond bureaucratic corridors, infiltrating the political landscape of Kyrgyzstan. Whispers of his role as an organized crime leader were persistent, yet his wealth and connections left him virtually untouchable in those years. Speculation about his political influence peaked after the dramatic rise of Sadyr Japarov to Kyrgyzstan’s presidency in October 2020. Japarov’s elevation, from prison to the highest office amidst a tide of civil unrest, prompted many to suspect that Matraimov’s financial backing played a decisive role in the ascent. However, despite Japarov-appointed head of Kyrgyzstan’s State National Security Committee (GKNB), Kamchybek Tashiyev once describing him as a “good guy,” if Matraimov hoped to shelter under Japarov's influence, his expectations were soon dashed.   The Turning Point Japarov’s administration showed no hesitation in targeting Kyrgyzstan’s entrenched criminal networks. With Matraimov having bounced in and out of jail since October 2020, by October 2023, the GKNB had escalated their crackdown on organized crime, culminating in the death of Kamchybek Kolbaev, the country’s top crime kingpin - a member of the “Bratva” linked to heroin trafficking - during a security operation in Bishkek. Sensing the shifting winds, Matraimov fled Kyrgyzstan shortly after Kolbaev's death. However, his flight only seemed to intensify the resolve of the government in his homeland, where the authorities began seizing Matraimov's assets and investigating his allies. Among those implicated was Matraimov’s brother, Iskender, a parliamentary deputy with significant political connections.   Extradition and Arrest In late March 2024, Kyrgyzstan’s crackdown on Matraimov escalated when the GKNB detained five Azerbaijani nationals in Bishkek. These individuals, suspected members of a transnational organized crime group, were allegedly dispatched by Matraimov from Azerbaijan to assassinate top Kyrgyz government officials. This accusation  - one of countless similar claims regarding assassination attempts made by the Kyrgyz authorities this year alone - led to diplomatic action, and March 26, 2024, Matraimov along with three of his brothers were extradited from Baku to Kyrgyzstan. Upon his arrival, Matraimov was immediately taken into custody. The legal net tightened further as the case against him unfolded, with allegations of illegal border crossings, hooliganism involving weapons, money laundering, and broader accusations regarding his criminal empire.   Asset Seizures and Financial Settlements Prior to his sentencing, Matraimov had reportedly returned $200 million to the state budget, equivalent to over 17 billion Kyrgyz som, to be released from custody to house arrest pending his trial. Authorities also confiscated significant assets, including a 14-story business center in...

Kazakhstan, Uzbekistan, and Azerbaijan Forge Green Energy Partnership

On November 13, on the sidelines of the COP29 summit in Baku, Azerbaijan, Kassym-Jomart Tokayev, Shavkat Mirziyoyev and Ilham Aliyev, the leaders of Kazakhstan, Uzbekistan and Azerbaijan, signed an agreement for a strategic partnership in developing and transporting green energy. Calling the signing of this agreement a historic event, Aliyev said that “it opens new opportunities for cooperation between the regions of Central Asia and the Caucasus. In fact, the integration processes, the processes related to transportation, energy, and trade between the regions of Central Asia and the Caucasus, allow us to say that these two regions are acting in a synchronized manner in many areas, including in the field of green energy development.”. The Azeri president added that constructing an electric cable under the Caspian Sea could lead to broader regional collaboration. Aliyev also highlighted Azerbaijan's ongoing plans to construct a cable from Azerbaijan along the bottom of the Black Sea to Europe. “The feasibility study for this project is nearing completion, so we will connect Central Asia, the Caucasus, Europe, the Caspian, and the Black Seas with a single energy corridor,” he stated. In his speech, Tokayev said the trilateral agreement opens new opportunities for integrating the energy systems of Kazakhstan, Uzbekistan, and Azerbaijan, as well as for creating reliable corridors to supply environmentally friendly energy to European and other markets. “Kazakhstan plays an extremely important role here as a large transit territory. The practical results of this Agreement will also contribute to developing the Middle Corridor as a ‘green bridge’ connecting our economies. Close cooperation in this key area will intensify the exchange of experience and advanced technologies between the three states and further strengthen our energy security,” Tokayev said. Mirziyoyev emphasized the environmental significance of this agreement, noting, “The energy that will be transmitted is wind and solar energy, which will help mitigate the impact on the climate. In this way, we support joint efforts to protect the climate within the framework of the Paris Agreement and achieve the Sustainable Development Goals,” he added. The three presidents also witnessed the signing of an Executive Program on cooperation in green energy development and transmission by the energy ministers of Azerbaijan, Kazakhstan, Uzbekistan, and Saudi Arabia.

COP29: Environmental Initiatives in the Real World

Kazakhstan's President Kassym-Jomart Tokayev has addressed the World Climate Summit in Baku, Azerbaijan. In his speech he spoke about the country's environmental problems, but also mentioned opportunities for new eco-friendly projects. At the same time, many world leaders did not attend the summit, and activist Greta Thunberg said climate problems should be discussed at other venues. Tokayev reaffirmed Kazakhstan's commitment to the global climate agenda and emphasized the importance of international cooperation in the fight against climate change. He reminded forum participants that carbon neutrality by 2060 can only be achieved with close cooperation and technology exchange. “Access to predictable funding and state-of-the-art technology is vital to achieving the targets. The NCQG should pay special attention to regions most vulnerable to climate change, including landlocked developing countries. Despite accounting for only 1% of global emissions, Central Asia faces multiple climate risks. To increase efficiency, we must actively utilize advanced technologies such as artificial intelligence, satellite monitoring, and other digital tools to provide early warning and better management of water and land resources,” Tokayev said. Tokayev added that Kazakhstan has opportunities for transition to better agriculture. According to him, the republic, which has 200 million hectares of agricultural land, is an ideal platform for introducing “carbon farming." The president said these agricultural production methods can reduce emissions and improve soil quality. “Our country provides 43% of the world's uranium supply and plays a significant role in developing low-carbon nuclear power. In October this year, ROK citizens supported the construction of a nuclear power plant in a nationwide referendum. We strive to ensure the safety and efficiency of this project through partnership with the world's technological leaders in energy”, added Tokayev. He separately emphasized the problem of the world's water resources. “Climate change is already seriously impacting the global water cycle. Water-related disasters account for more than 80% of all natural disasters. This year, the ROK faces unprecedented floods. To respond quickly in the future and recover from such emergencies, we are implementing a comprehensive risk management system. In partnership with France, Kazakhstan will hold the One Water Summit in December to actualize the water agenda. Participants of this forum will discuss the problems of global water management,” Tokayev said. “Today, the Caspian Sea is under threat. Saving the world's largest lake is a problem that requires long-term international cooperation. We support President Ilham Aliyev's (Azerbaijan) initiative to create a group of experts from the Caspian littoral states. Additionally, Kazakhstan is taking concrete steps to preserve the Aral Sea,” he added. Also, within the framework of the World Climate Summit in Baku, an important agreement for Kazakhstan's water sector was signed. Deputy Prime Minister and Minister of National Economy Nurlan Baybazarov said the Islamic Development Bank will finance Kazakhstan's $1.1 billion project for water resources development, which will be realized in nine regions. Kazakhstan is not standing still Today, Kazakhstan has several major environmental projects in operation. These include the Astana Green Belt, which has significantly improved the city's ecology, reduced air...

Kazakhstan, Azerbaijan and China Establish Joint Cargo Terminal in Baku

Azerbaijan, China, and Kazakhstan have signed an agreement to establish an intermodal cargo terminal in the Port of Alat in Baku, the Azerbaijani capital. The agreement was signed in Baku on November 12 by SK-AIH Investment Fund Ltd (Samruk-Kazyna, Azerbaijan Investment Holding), Kazakhstan Temir Zholy (Kazakhstan’s national railway company), Baku International Sea Trade Port (Azerbaijan), and Xi'an Free Trade Port Construction and Operation Co., Ltd (China). The project was made possible through Azerbaijan’s provision of a land plot, operational berths, and terminal facilities at the Port of Alat. This new terminal is expected to increase container train traffic between China and Europe along the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, reducing delivery times, transportation costs, and transshipment time. The terminal will feature a universal cargo yard, a covered warehouse complex spanning 5,000 square meters, and a container yard with a capacity of over 1,000 containers. Kazakhstan and China plan to increase the volume of cargo transported along the TITR to 600 container trains per year by 2025–2026, with targets of 1,000 container trains in 2027 and 2,000 by 2029, according to Kazakhstan’s Ministry of Transport. In 2023, transit volumes between China and Europe through Kazakhstan reached 2.76 million tons—a 65% increase from 1.7 million tons in 2022. The TITR connects China and Europe via Central Asia and the Caucasus, bypassing Russia, offering a strategic link between the two regions.

Central Asian Leaders Arrive in Azerbaijan for UN COP29 Climate Summit

The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) opened in Azerbaijan's capital Baku on November 11, drawing approximately 50,000 participants, including government representatives, politicians, investors, and environmentalists from 198 countries. Kazakh President Kassym-Jomart Tokayev attended the Summit, where he was welcomed by Azerbaijani President Ilham Aliyev and UN Secretary-General António Guterres. Tokayev will open the plenary session and hold talks with various heads of state, as well as representatives of international organizations and businesses. Kyrgyz President Sadyr Japarov has also arrived at the conference and is scheduled to address the opening session on November 12. He will participate in the special session “High-Level Dialogue: Advancing the Mountain Agenda and Mainstreaming Mountains and Climate Change,” organized by Kyrgyzstan with the support of Azerbaijan and Mongolia. This discussion will also feature Mongolian President Ukhnaagiin Khurelsukh, Nepali President Ram Chandra Poudel, and representatives of international organizations. Russia is represented at the summit by its Prime Minister Mikhail Mishustin. Additionally, representatives of the Taliban, which the UN does not recognize as the legitimate government of Afghanistan, have been included in the delegation for the first time. Armenia, however, has not yet confirmed its participation due to ongoing territorial disputes with Azerbaijan. The Summit is being held at the Baku Olympic Stadium, with sessions set to conclude on November 22. COP29 has been termed a “finance summit” due to its primary focus on financing developing nations in the fight against climate change. Delegates are also working to establish a framework to improve national emissions reduction programs.

China Officially Joins the Middle Corridor

It was announced during the 8th International Silk Road Expo in Xi’an in September 2024 that China will formally join the Middle Corridor under the guise of participation by the China Railway Container Transport Corporation (CRTC). This move signals a growing reliance on Central Asia’s trade-route infrastructure potential. China's shift to overland routes is part of a broader strategy to diversify away from traditional maritime routes through chokepoints like the Strait of Malacca, which carry geopolitical risk. Kazakhstan's strategic geographic location naturally makes it indispensable to China’s trade, and infrastructure projects currently underway represent a key component of the Middle Corridor’s potential. In July 2024, Kazakh President Kassym-Jomart Tokayev ratified agreements with China aimed at further developing the Middle Corridor, enhancing both road and rail infrastructure. The country has already been upgrading its rail infrastructure, modernizing dry ports like Khorgos on the Chinese border, and expanding transit facilities at the Caspian Sea port of Aktau. The increased flow of goods through Kazakhstan is evident: over 212 container block trains have passed through the country by September 2024, with the number projected to exceed 300 by the year’s end. These build-outs, and particularly Kazakhstan’s modernization of its railways, go hand-in-hand with the recently finished improvements along the Baku-Tbilisi-Kars (BTK) line, which connects Azerbaijan to Turkey via Georgia. The expansion of the BTK line's capacity from 1 million to 5 million tons per year has now been completed. As a result of all these efforts, the travel time for goods from China to the Black Sea has been reduced to just 10–12 days, highlighting the efficiency of the corridor. Azerbaijan also plays a crucial role in this economic ecosystem. Baku’s port of Alat serves as a critical transit point for cargo crossing between Central Asia and the South Caucasus. Azerbaijan’s collaboration with Kazakhstan, Georgia, and Turkey has led to significant investments in expanding port facilities and upgrading railway systems beyond the crucial BTK link mentioned above. The result is a smoother, more reliable flow of goods from China to Europe. Azerbaijan is winning its bet to become a regional logistics hub. In addition, a Chinese consortium recently secured the contract for the construction of the Anaklia deep-sea port in Georgia, a strategically important site on the eastern edge of the Black Sea. The project was initially awarded to a Georgian-American consortium, but was cancelled in 2020 due to political and legal disputes. Following a new tender process this year, the Chinese consortium emerged as the sole bidder. If supporting infrastructure is adequately developed and the Black Sea’s cargo transit capacity can be significantly enhanced, then the Anaklia port could become a critical node in the Middle Corridor, enhancing its role in Eurasian trade and bolstering regional connectivity. China’s increased reliance on Central Asian, trans-Caspian, and South Caucasus routes is not just about efficiency. It is also a strategic diversification to mitigate the risks posed by geopolitical instability in other regions. Traditional sea routes through maritime choke-points as well as overland routes like...