Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 29 Jul 2026 by Evgeny Gavrilenkov
Jul 16 International arbitration: United Nations Commission on International Trade Law (UNCITRAL) arbitration has temporarily banned Kazakhstan from enforcing KZT 2.3 trln fine against the operator (NCOC, North Caspian Operating Company) of the Kashagan oil field until an arbitration decision is made. Ministry of Transport: Freight transportation between Kazakhstan and China increased by 9% y-o-y in 1H26. KMG: The company and the Russian LUKOIL continue consultations on the options of further implementation of the Kalamkas-More and Khazar oil projects, taking into account the sanctions restrictions. Ministry of Justice: The UNCITRAL commercial arbitration interim measure does not have priority over Kazakhstan's national legislation, so the operator of the Kashagan field must pay a fine of KZT 2.3 trln. President: Kazakhstan and China signed over 70 commercial agreements worth more than $15 bln as a result of Mr. Tokayev's visit to Shanghai. Jul 17 Energy Ministry: Kazakhstan will not supply oil to Germany via the Druzhba pipeline in July and August. Ministry of Agriculture: Kazakhstan has imposed a partial ban on wheat imports for six months. CPC: An oil tanker was attacked near the CPC terminal in the Black Sea. Eurasian Fund for Stabilization and Development: The fund has lowered its forecast for Kazakhstan's GDP growth in 2026 to 5% amid disruptions in oil production at the Tengiz oil field. Jul 19 CPC: Two tankers (one of them owned by US Chevron, another by KMG) that were attacked during loading at the CPC terminal remained afloat, and oil loading was halted. Ministry of Foreign Affairs: Kazakhstan demands an end to attacks on oil tankers near the CPC terminal. Mi...

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