Kazakhstan’s National Bank Chair Timur Suleimenov responded to an inquiry from members of the Mazhilis, the lower house of Kazakhstan’s parliament, regarding banks’ reluctance to provide loans to Kazakh enterprises exporting to Russia.
In mid-February, Azat Peruashev, leader of the Ak Zhol political party, submitted a parliamentary inquiry to Suleimenov, stating that Kazakhstani machine-building enterprises were facing challenges in exporting their products to Russia. Banks refused to grant them loans and process payments, citing concerns related to the risk of secondary sanctions from the U.S. and the EU.
Suleimenov pledged to raise this issue at the next meeting with financial...