With the Russian-Ukraine war entering its fifth year, Kazakhstan is grappling with lots of uncertainty concerning oil exports, a critical revenue stream for Astana. The threats to budgetary stability faced by Kazakhstan are not solely related to the warfare in Ukraine: Astana is also facing prolonged and complicated negotiations with foreign partners over renewed operating agreements for key oil fields. Over the near term, Ukraine poses the main challenge for Kazakhstan’s oil exports. Kyiv is threatening to significantly increase attacks…
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