In the fall of 2024, banks across Kazakhstan tightened the rules for payments to Russian companies. The shift touched routine settlements, supplier invoices, and trade finance workflows. Financial institutions increased the level of documentation required, stepped up beneficiary verification, and intensified checks on the origin and flow of funds. The changes come amid tighter international oversight and a wave of sanctions enforcement that has pushed many banks to strengthen their risk controls. For many firms engaged in cross-border commerce, the new reality means slower processing, more paperwork, and longer waits before funds reach their intended destinations. In practice, the tightened procedures have created a ripple effect through supply chains, prompting buyers and sellers to adjust payment terms and to seek more predictable, compliant channels for settlement.
Within this environment, the financial director of a transport company PEK described an observable shift. He said the average settlement time for payments between Russia and Kazakhstan rose by 24 percent by November, compared with July 2024. The longer timelines reflect more stringent checks at domestic banks and at correspondent banks abroad, especially on transactions that could intersect with sanctions regimes or heightened screening. Industry observers note that the path of money across borders now involves an expanded trail of documentation, additional verification steps, and, in some cases, pauses in processing while compliance teams assess risk. Businesses that rely on timely payments have started planning around these delays, building in extra lead time and ensuring that every transfer carries clear, verifiable information to prevent interruptions.
Banking officials in Kazakhstan have tightened transfer compliance across the board. The common thread is a more rigorous review of counterparties, destinations, and the authenticity of payment instructions. Transactions now routinely go through enhanced due diligence, with risk scoring and stricter thresholds for approving transfers to certain regions. Financial leaders say this intensification shows up as longer validation cycles, fewer automatic approvals, and more back-and-forth before funds depart. The result is a more deliberate, slower pace of settlement that banks say is needed to align with evolving sanctions regimes and global anti-money-laundering rules. For exporters and importers alike, the extra checks mean planning for slower cash flows while ensuring all required documentation is in place before a transfer request is submitted.
A law firm representative, serving as managing partner at a regional firm, points out that the duration of cross-border settlements can vary from a few weeks to roughly two months. The range depends on the complexity of the transaction, the number of parties involved, and the level of documentation provided. In some cases, the path chosen by the parties, the currencies used, and the parties’ compliance histories also influence processing times. The partners emphasize the importance of careful pre-transaction preparation, including clear invoices, verified contractual details, and a transparent money trail. While the range may look unpredictable, many operators report that it eventually lands in a predictable cadence when due diligence and documentation meet bank requirements.
Analysts attribute the longer settlement windows to two broad forces. First, international sanctions regimes tighten, increasing caution on flows to and through certain countries and entities. Second, global anti-money-laundering measures have grown more stringent and technologically sophisticated, prompting banks to deploy more advanced screening and monitoring. Analysts say this combination raises the threshold for what counts as a safe transfer, pushing institutions to request more information and to slow processing until risk is assessed. The broader effect is a cross-border payments environment that rewards those who keep clear records and verifiable trade data as flows move through tighter controls.
A founder of Digital Foreign Economic Activity emphasizes that Kazakh banks require documents proving that goods are not on sanctions lists. Exporters may need certificates of origin, invoices, and compliance attestations, with bank representatives requesting confirmation that the transaction will not violate sanctions. The added requirements aim to prevent unintended support for restricted activity, but they also place a heavier burden on both sides of the border. Companies that anticipate restrictions report that early preparation and robust documentation help keep payments moving, even as banks apply stricter checks.
In August, reports indicated a Kazakh Freedom Bank suspended transfers through the Zolotaya Korona system, another sign that financial channels face tighter controls. The move disrupted some routine payments and forced businesses to explore alternative routes or split payments to avoid delays. Bank officials cautioned that such interruptions can occur when sanctions-related risk signals prompt broader checks across payments networks. The disruption underscores the challenge of maintaining steady cash flow when payment rails tighten in response to international policy.
Earlier, authorities in Turkey addressed issues with transfers to Russia, adding to the friction in international payments. The evolving policy environment has prompted traders to adjust payment strategies, shifting toward longer lead times, diversified payment methods, and reliance on documentation that clearly demonstrates compliance. In short, cross-border commerce between Kazakhstan and Russia now operates in a more cautious, paperwork-heavy regime that rewards diligence and transparency among firms involved in trade.