KAZAKHSTAN and its corporations are facing increasing risks of secondary sanctions due to maintaining strong trade and logistics connections with Russia, according to the World Bank. The warning comes as the US, European nations and other countries strive to curtail opportunities for Russian companies and the government to circumvent existing restrictions aimed at reducing its military and economic strength due to its invasion of Ukraine. In its latest Kazakhstan Economic Update report, the World Bank said that "a principal concern for Kazakhstan is to avoid secondary sanctions which target countries that do extensive business with sanctioned entities". "However, even if Kazakhstan avoids explicit secondary sanctions, investors might preemptively withhold investment for fear that such cases might transpire in future," the report said.
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