President Nazarbayev on sanctions against Russia and their impact on Kazakhstan25 august 2014, 13:22
Escalation of the situation in Ukraine and the ensuing sanctions are to have an adverse effect on the Eurasian Economic Union, Interfax-Kazakhstan reports, citing President Nazarbayev as saying.
At the same time, Kazakhstan-based producers might enjoy certain benefits from the sanctions introduced, he believes.
On the one hand, sanctions against neighboring Russia may result in slowdown in a number of industries. Should Russia-based plants and factories face hardships, Kazakhstan’s commodities might be in less demand, President said in an interview for Kazakhstan’s Khabar Channel.
On the other hand, given the reciprocating sanctions Russia has introduced, that is the ban on food imports from the West, Kazakhstan may produce more meat, dairy products and other foodstuffs for Russia. The current situation may turn out favorable for Kazakhstan’s farmers”, he said.
However, we should not falsely assume that the sanctions are going to be there forever. If we start exporting certain things to Russia, we should be ready the sanctions may be lifted one day. In the bulk, the sanctions have no direct impact on Kazakhstan.