Economic Cooperation of Kazakhstan and Russia: Risks and Perspectives

Russia is one of the key economic partners of Kazakhstan in terms of trade and investments. The countries jointly implement many important projects. However, since the Ukrainian invasion and international sanctions and pressure, economic cooperation with Russia may bring substantial costs for Kazakhstan and other Central Asian countries. Therefore, this commentary aims to analyze Russia’s role in Kazakhstan’s economy, reveal potential risks from economic cooperation and provide policy recommendations. Analysis of bilateral trade figures between the two countries demonstrates that the volume of the trade turnover increased substantially.