The share of settlements between Russia and Kazakhstan conducted in rubles and tenge has risen to a substantial level, nearing two-thirds to three-quarters of total transactions. This trend was highlighted by Yermek Kosherbaev, Kazakhstan’s Ambassador to Moscow, in an interview with TASS. This shift signals a growing preference for national currencies in bilateral trade and financial exchanges, reflecting an effort to bolster monetary independence and reduce reliance on foreign currencies in the region.
Kosherbaev noted that the movement toward settlements in national currencies is accelerating. He stated that the share of such transactions is approaching 70-75 percent, a clear indication of the increasing comfort and familiarity of businesses with ruble- and tenge-denominated settlements. The ambassador emphasized that this evolution is a strategic priority for Kazakhstan as it continues to diversify its financial channels and deepen economic ties with Russia. He added that the Kazakh authorities are actively supporting and facilitating still stronger integration of bilateral financial flows.
In addition to currency localization, Kosherbaev underscored Kazakhstan’s openness to expanding Russian investment within its borders. He affirmed that Kazakhstan intends to enhance the role of Russian capital and will take steps to ensure this presence remains strong over the long term. This stance reflects a broader aim to attract capital, technology, and expertise that can contribute to Kazakhstan’s growth while maintaining balanced and mutually beneficial cooperation with Moscow.
Former Russian Ambassador to Kazakhstan Alexei Borodavkin highlighted that defense and security cooperation between the two countries holds strategic importance for Russia. He pointed out that although such collaboration has always mattered, it has now become a top priority amid evolving regional security dynamics. Borodavkin noted that there is a tangible agreement on military cooperation and that Kazakhstan actively participates within the framework of this relationship, including its role in the Collective Security Treaty Organization.
Looking at the leadership dynamics, President Kassym-Jomart Tokayev acknowledged the significant influence of his Russian counterpart, Vladimir Putin, in shaping the trajectory of Kazakhstan-Russia relations. Tokayev credited Putin with contributing to the development of robust bilateral ties and emphasized the importance of sustained, constructive collaboration across economic, security, and strategic sectors. The mutual commitments reflect a shared vision of stability, regional integration, and practical cooperation that aims to benefit both nations over the coming years.