Kazakhstan's economy suffering from situation in Ukraine - MFA

By Trend

The economy of Kazakhstan is suffering from the situation in Ukraine, Deputy Minister of Foreign Affairs of Kazakhstan Roman Vassilenko told in an interview with "Diário de Notícias" Portuguese newspaper, Trend reports.

According to him, in terms of economic impact, Kazakhstan's economy is suffering as it's heavily connected to the Russian economy.

"Kazakhstan is a part of the Eurasian Economic Union (EAEU), created in Astana in 2014 when the agreement was signed. The country also has about 9,000 Russian companies or mixed companies with Russian capital in Kazakhstan. If we compare this with 6,000 European companies that are present in the country, then the large presence of Russia becomes apparent," Vassilenko said.

Therefore, he noted, if the Russian economy is experiencing difficulties, the economy of Kazakhstan will also feel their impact.