The Week in Kazakhstan: Never Say Seven

Kazakhstan’s President Kassym-Jomart Tokayev proposed establishing a peace prize named after US President Donald Trump on February 19 for his “far-sighted approach to promoting global peace and stability.” That day, Tokayev took part in the inaugural meeting of the so-called Board of Peace in Washington, and said Kazakhstan was ready to contribute to the rebuilding of the Gaza Strip.

Tokayev held a phone conversation with Kyrgyz President Sadyr Japarov on February 17 and congratulated him with his ability to “preserve national unity.” Last week, Japarov fired Kamchybek Tashiev, who had served as deputy Prime Minister and chairman of the National Security Committee (GKNB), the country’s primary law enforcement agency, in a stated effort to “strengthen unity and prevent divisions.”

According to Deputy Prime Minister and minister of economy Serik Zhumangarin, Kazakhstan could attract around $120 billion in investment by 2029. During a government meeting on February 17, Zhumangarin said that new “priority sectors” such as commodity processing, agricultural production, rare earths mining, and petrochemicals will drive foreign investment. [Read more here]

A report from the Statistics Committee published on February 18 highlighted that Kazakhstan’s foreign trade turnover had grown by $143.8 billion in 2025, an increase of 1.3% from the previous year’s figures. Despite the growth in turnover, export values dipped by 3.2% ($79 billion) and imports grew by 7.4% ($64.8 billion). Experts say falling commodity prices were the primary driver behind the reduced export earnings.

On February 19, Central Bank deputy chairman Berik Sholpankulov said that the regulator could not identify specific potential violations involving international transfers worth 7 trillion tenge ($14.2 billion) through banks in Kazakhstan. At the end of January, during a meeting with the head of the Financial Monitoring Agency, Tokayev first said that money had been transferred to neighboring countries, possibly through illegal methods. The following day, the statement was removed from the presidential website, and several corresponding stories on local media outlets were deleted. On February 20, Sholpankulov was fired.

Local businessman Shakhmurat Mutalip could obtain financing from Glencore to take over Glencore’s own stake in Kazzinc, sources told Bloomberg on February 19. The deal, which would earn Mutalip a 70% stake in one of the country’s largest miners, could cost around $4 billion. According to Bloomberg sources, Mutalip is also discussing the purchase of gold producer Altynalmas.

A global shortage of turbines could delay plans to increase oil production at Kazakhstan’s Kashagan offshore field, Upstream reported on February 17 citing industry sources. Oil production should now reach its target in 2031, two years behind schedule, sources said. When asked about the delay, NCOC, the consortium that operates the field, did not specify what had caused it.

London-listed Nostrum Oil & Gas said on February 17 that its subsidiary, Zhaikmunai, had lost an appeal against Kazakhstan’s ministry of finance. The dispute centred on the ministry’s claims that Zhaikmunai, which operates the Chinarevskoye oil field in north-western Kazakhstan, failed to pay taxes in full in 2018, 2019, and 2020.

Kaiyrkhan Tutkyshbayev, the deputy minister of energy, said on February 17 that Kazakhstan will build a fourth oil refinery with the aim to boost domestic processing capacity. According to Tutkyshbayev, construction of the 10 million tons/year, $10 billion plant should start this year, although the government has not yet approved a location.

Samruk-Kazyna Ondeu, the dedicated chemical industry arm of Kazakhstan's state holding company, said on February 16 that Russia’s Tatneft had withdrawn from a joint petrochemical project. The state-owned company did not comment on the fate of the project, linked with the giant Tengiz oil field, which was poised to cost around $1 billion and produce butadiene, a compound used to produce synthetic rubber and fuel additives.

Kazakhstan’s state holding company Samruk-Kazyna could slash 10% of its administrative and management personnel, Kursiv reported on February 17. Samruk-Kazyna’s portfolio companies contribute to around 35% of Kazakhstan’s GDP and employ around 3% of the country’s workforce.

As the March 15 referendum on the new Constitution approaches, Kazakhstan’s authorities have fined multiple journalists for conducting unsanctioned “surveys” about the proposed charter. On February 17, a journalist from Azattyq, local branch of Radio Free Europe/Radio Liberty, was fined approximately $130 for asking social media followers if they planned to vote. The following day, Tamara Yeslyamova, chief editor of Uralskaya Nedelya, was fined around $260 for making similar inquiries.

The Senate approved a bill that would allow Kazakhstan to add four more special zones for gambling on February 19. Besides existing areas in Konayev and Burabay, tourist areas in Mangistau, Zhetysu, Almaty, and East Kazakhstan regions have been earmarked to host foreign-owned gambling facilities.

On February 16, Human Rights Watch expressed concern that proposed amendments to Kazakhstan’s Constitution would severely weaken checks on executive power and fundamental human rights protections in the country.

Police in Astana said on February 18 that it is investigating LGBTQ+ activist Zhanar Sekerbayeva for battery. Sekerbayeva, the co-founder of the feminist initiative Feminita, said she feels persecuted for her activism and sexual orientation.

Uzbekistan’s authorities could charge Dauletmurat Tazhimuratov, a Karakalpak activist, with another criminal violation, human rights activist Akylbek Muratbai said on February 16. Tazhimuratov voluntarily traveled back to Uzbekistan from Kazakhstan in 2023 and was arrested. He is now serving a 16-year sentence and the new charges could add 5-10 years more.

On February 14, Mikhail Shaidorov won the gold medal in men’s figure skating at the 2026 Winter Olympic Games in Italy. This is Kazakhstan’s first Olympic gold in figure skating. The Almaty-born 21-year-old won as the underdog of the competition.

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