The Kazakhstan government is trying to avoid situations where Russia would use the country as a tool to circumvent EU and US sanctions, but that doesn’t make it any less of a problem. According to Orda.kz’s report, this was expressed by Akylzhan Baimagambetov, Deputy Chairman of the Central Bank of the Republic.
As Baimagambetov points out, if you look at the volume of exports to Russia, you can see that there is no annual growth in 2022 compared to 2021, but Kazakh producers are at risk of falling into secondary sanctions.
According to him, when there is a trade of sanctions, the government tries to prevent such events, in particular, this concerns the export of dual-use goods from the territory of Kazakhstan to the territory of the Russian Federation.
However, he stressed that secondary sanctions against any country would create very difficult problems for that country and the entire region.
“We are trying to maintain a neutral position towards Russia. However, Russia is our biggest trading partner. Therefore, we try to take a balanced approach here because the sanctions against Russia create problems for us as well. “To some extent, it has a negative impact on economic activity in certain areas,” he said.
That is why Kazakh authorities are trying in every possible way to avoid using the country as a tool to circumvent sanctions, Baimagambetov added.
Formerly Financial Times WroteMore than $1 billion worth of European dual-use goods were lost while being transported via Russia to Armenia, Kazakhstan and Kyrgyzstan.