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headlines from the caspian: july 26, 2022

Headlines from the Caspian: July 26, 2022

Author:Caspian Policy Center

Jul 26, 2022

Image source: Getty Images

Energy and Economy

Kazakhstan Becoming Relocation Site for Foreign Companies Leaving Russia

Kazakhstan plans to attract foreign companies looking to relocate their businesses from Russia amid severe sanctions on Russia over its Ukraine invasion. On Thursday, the Kazakh Deputy Foreign Minister, Almas Aidarov, stated that currently “43 companies have an interest in either relocating production or opening new facilities here in Kazakhstan, or moving their headquarters in the Eurasian region to Kazakhstan.”

Sources: Caspian News

Heatwaves Could Cause Energy Crunch in Central Asia

Kyrgyzstan’s state power supplier has warned of possible energy shortages as consumers set a new daily record for power consumption in summer. According to the data released by the National Energy Holding on July 19, electricity consumers in Kyrgyzstan increased consumption by around 20 percent compared to the same day over the previous two years. It has been reported that the increase in energy consumption could be due to increased use of air conditioning to combat what the company laconically described as “ongoing abnormally hot weather.”

Source: OilPrice.com

Kazakhstan Increases Trade Turnover Outside EAEU

According to the data reported by Kazakhstan’s State Revenue Committee on July 19, Kazakhstan’s trade turnover with countries outside the Eurasian Economic Union (EAEU) increased by 51.6 percent over the six-month period this year. While the exports grew by 65.4 percent, imports increased by 20.8 percent over the same reported period.

Source: The Astana Times

European Bank for Reconstruction and Development Invests $100 Million in Trans Caspian Economic Corridor

In the form of a bond with the Kazakhstani national company Temir Zholy, the European Bank for Reconstruction and Development, has invested over 50 billion tenge, or over $100 million in modernizing the Trans Caspian International Trade Route.

Source: Fergana News Agency

Security and Politics

Central Asian Alliance Concept Falters at Summit

The Central Asia Heads of State Summit was held last week on the shore Issyk-Kul Lake in Kyrgyzstan. However, Tajikistan and Turkmenistan did not sign the Treaty of Friendship, Good Neighborliness and Cooperation for the Development of Central Asia in the 21st century. At the Summit many issues like Afghanistan and increasing connectivity were discussed, however Russia’s invasion of Ukraine was not.

Source: Eurasianet

Georgian Ruling Party Criticizes U.S. and EU Ambassadors

Georgia’s ruling party accused U.S. Ambassador Kelly Degnan of attempting to bring Georgia into the war with Ukraine and of interfering with Georgia’s judicial process, while outgoing EU ambassador Carl Hartzell was blamed for not doing enough to help Georgia secure EU candidacy.

Sources: Eurasianet

Secretary of State Blinken Calls Armenia and Azerbaijan’s Heads of State

In separate phone calls Secretary Blinken called Armenia’s Prime Minister Pashinyan and Azerbaijan’s President Aliyev to discuss the peace process between the two countries and the recent meeting between the Armenia and Azerbaijan’s foreign ministers in Tbilisi. He also discussed the normalization of relations between Armenia and Turkey with Pashinyan.

Sources: Department of State and Department of State

 

(Sources: The Astana Times, Caspian News, the Department of State, EurasiaNet, Fergana News Agency, Oilprice.com)


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