Kazakhstan monitoring fallout of anti-Russian sanctions: Nazarbayev

President of Kazakhstan Nursultan Nazarbayev has declared that anti-Russian sanctions do not have a direct impact on Kazakhstan, but the situation is being closely monitored for side effects, Tengrinews reports citing STV broadcast of the President’s traditional annual meeting with journalists in Akorda on December 21.

"Sanctions do not affect Kazakhstan directly. Still, they are not good, since Russia is our main partner. Our people go and buy cheap products in Russia now. They might think it is good, buying cars 10-15 thousand cheaper than there are here, buying housing. In Russia too, such low costs are good on the one hand. But on the other, it is bad, because the ruble exchange rate is excessively volatile," Nazarbayev said.

The President then commented on the coming into force of the Eurasian Economic Union.

"Now in the Customs Union and the Eurasian Economic Union we will have to see what to import and what not. Because it can impact our enterprises, which produce their own goods here in Kazakhstan. Again, if we were making all these products in our country, we would not have to import anything. This is why we need to take a close look at this,” he said.

Nazarbayev added: “Everything goes as usual. We trade with the European Union, with other countries. Investments come both from the East and the West. We will continue the work and will closely monitor the situation.”

Reporting by Assemgul Kassenova, writing by Dinara Urazova