• KGS/USD = 0.01140 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09314 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01140 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09314 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01140 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09314 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01140 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09314 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01140 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09314 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01140 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09314 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01140 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09314 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01140 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09314 -0.21%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 6

Central Asia and Turkey Serving as Way-Points for Russia’s Explosives Imports

Citing an analysis of trade data, the Wall Street Journal (WSJ) has reported that Russia has boosted its imports of an explosive compound critical to the production of artillery ammunition - including from companies based in the U.S. and other Western countries and allies - despite international sanctions meant to choke Moscow's wartime production. Russian imports of nitrocellulose, a highly flammable cotton product central to gunpowder and rocket propellant production, surged 70% in 2022, the first year of Moscow's full-scale invasion of Ukraine, and midway through 2023 imports amounted to 3,039 tons of the product - nearly double the 2021 level. Another supplier of cotton pulp, China, increased its supplies after U.S. and European (EU) sanctions. However, according to Liu Pengyu, spokesperson for the Chinese Embassy in Washington, "Sino-Russian economic and trade cooperation is not directed against any third party and should not be violated or coerced by any third party... China does not sell weapons to parties involved in the Ukraine crisis and handles exports of dual-use goods in a reasonable manner in accordance with laws and regulations." According to Russian customs data provided by trade database, Import Genius, Turkish company Noy İç Ve Diş Ti̇caret accounted for nearly half of Russia's nitrocellulose imports since the Russia-Ukraine conflict began, with most of the Istanbul-based company's sales to Russian companies that are government contractors based in Moscow. The Turkish Embassy, as well as representatives of the company, declined to comment. Nitrocellulose supplies to Russia have also been found to contain chemical tracers from the U.S. company, International Flavors & Fragrances, which suspended its direct shipments to Russia in April 2022 but continued them through third countries. The company said its product didn't contain enough nitrogen to be a component of an explosive. However, Michelle Pantoja, a professor of mechanical engineering at Texas Tech University who heads the combustion laboratory's research center, said the nitrogen content of civilian nitrocellulose could be increased to the required level. In December, the U.S. Department of Commerce added nitrocellulose to its list of high-priority controlled commodities, which restricts its exports, and the Treasury Department said it would impose sanctions on banks or other institutions found to be financing such international trades. To be effective, however, sanctions must also apply to nitrocellulose supplier companies, said a Rand analyst. Last year, the Organized Crime and Corruption Reporting Project (OCCRP) claimed to have documents in its possession which showed that more than 98% of nitrocellulose imported into Russia is supplied by Kazakhstan and Uzbekistan, and that imports have increased since Russia's full-scale invasion of Ukraine. The Import Genius database revealed that in 2022 and early 2023, Fergana Chemical Plant, one of the largest cotton pulp producers in Uzbekistan, not only supplied raw materials to Russian importing companies, but also made direct shipments to two Russian gunpowder plants - one in Kazan, the other in Perm - worth more than $2.2 million. In total, according to a joint investigation by Important Stories, OCCRP and Vlast.kz, the plant supplied 2,700...

Kyrgyz National Bank, Other Agencies Can Resume Sanctions-Related Inspections

Earlier this year, Kyrgyz President Sadyr Japarov signed a decree prohibiting state supervisory agencies from inspecting businesses until the end of 2024. Only evidence that a private company has violated the law could trigger an inspection. That presidential decree banning business inspections was amended recently to ensure economic stability in Kyrgyzstan, and now the tax and customs authorities, as well as the National Bank of the Kyrgyz Republic, can again carry out inspections. The financial regulator can now assess the activities of commercial banks and other financial institutions, as it was before the presidential decree. In a live broadcast on Kyrgyz state radio, Musa Kataganov, head of the Business Environment Policy Department of the Kyrgyz Ministry of Economy, said that "as you know, numerous sanctions are being imposed against Russia. Our commercial banks are under strict surveillance by the West to ensure that goods do not move from or to Russia." According to Kataganov, the National Bank of Kyrgyzstan (NBKR) is obliged to monitor the activities of commercial banks - despite the presidential moratorium - to prevent the entire Kyrgyz banking system from falling under Western sanctions. After the U.S. Treasury Department threatened to impose sanctions for servicing the Russian payment system MIR in September 2022, just under half of Kyrgyzstan's banks stopped working with the system. U.S. sanctions could affect the servicing of correspondent accounts of Kyrgyz financial institutions abroad, as foreign counter-party banks would likely follow Treasury Department guidelines and cut off access to Kyrgyz banks. Each bank in Kyrgyzstan in this case made the decision on its own, without any pressure from the authorities. Asked by Times of Central Asia, the NBKR's press service said that its removal from the list of government agencies on which the inspection moratorium was imposed was primarily due to the need to ensure the safe and reliable operation of Kyrgyzstan's payments and banking systems in order to promote long-term economic growth in Kyrgyzstan. "As part of supervision over the activities of commercial banks, the National Bank carries out both remote supervision and on-site inspection of all types of risks inherent in the activities of commercial banks, including compliance with the requirements of the legislation of the Kyrgyz Republic in terms of combating the financing of terrorist activities and legalization (laundering) of criminal proceeds - as well as compliance with international sanctions," the press service of the NBKR stated.

Import of Chinese Cars to Kyrgyzstan Surges, with Russia as Final Destination

A total of 57,000 cars were imported into Kyrgyzstan from China from January-November 2023, according to China’s customs statistics, more than a 49-fold increase compared to the 1,200 vehicles imported from January-November 2022. In monetary terms, imports increased 62-fold, and the average car price increased by over 25% - up to $29,700. In November, the official website of the State Council of the People's Republic of China reported that exports of cars through the land port in the Kizilsu Kyrgyz Autonomous Prefecture in western Xinjiang (bordering Kyrgyzstan) has surged about fourfold this year to reach 35,000. According to the port management committee, nearly 80% of those cars were new energy vehicles. Chinese vehicles are mainly exported to Russia via Central Asian countries, Chinese officials say. Since the introduction of Western sanctions against Russia over its invasion of Ukraine, China has become the main supplier of new cars to the Russian Federation, accounting for about 80% of all imports.

Central Asia and Turkey’s repentance: too early for Turkish delight

LONDON (TCA) — Recep Erdoğan’s “mea culpa” and his attempts to get Turkey back on the political scene have been met with mild tolerance – but with less enthusiasm than he might have hoped for. The maneuver could restore “business as usual” between the former USSR and Turkey, but the latter is now under close watch by virtually everybody and “rebuilding mutual trust” is no matter of words but of deeds, the ball remaining in Turkey’s camp. Continue reading

Central Asia and Russian and European sanctions: manufacturing locally with a foreign partner

BISHKEK (TCA) — Recently an Italian delegation was in Kazakhstan to find ways and means to cooperate with Kazakh companies to produce in Kazakhstan with Italy as the main partner for the export to Russia. A similar trend is in process in Kyrgyzstan, while European and Turkish companies are already very active in developing new joint ventures with manufacturing and processing plants in Russia, Belarus and other countries. The objective is everywhere the same — a continuation of business relations and trade with the important market of Russia. European exporters are fully aware of the damage they have been suffering in the last 18 months following the European sanctions and Russian counter sanctions, and they are trying to keep the business relations built during many years of cooperation with the Russian market. Continue reading

Kazakhstan and EU agree to extend cooperation

ASTANA (TCA) — Kazakhstan President Nursultan Nazarbayev met with European Commission President Jean-Claude Juncker in Brussels on March 30. The meeting focused on ratification of the EU-Kazakhstan Enhanced Partnership and Cooperation Agreement signed in December 2015 and sanctions against Russia that affect Kazakhstan, RFE/RL reported.   Continue reading

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