For the second consecutive year, Turkmenistan is facing the problem of decline in the amount of its natural gas customers. In 2017 Ashgabat reduced the list of its natural gas export routes down to one, namely, to China. In the early January 2016, the Russian state gas company Gazprom formally suspended purchases of the Turkmen natural gas. Therefore, in 2016, Ashgabat was obliged to provide natural gas shipments only in the Chinese and the Iranian directions.
Iran and P5+1 countries (China, France, Germany, Russia, the United Kingdom, and the United States), after 2 years of negotiations on the Iranian nuclear program signed the Joint Comprehensive Plan of Action (JCPOA) on July 14, 2015. Under the agreement, Iran agreed to significantly reduce its stockpile of enriched uranium and the European Union (EU) agreed to lift the sanctions while the United States (U.S.) agreed to lift the secondary sanctions against Tehran.
It is essential for the oil-rich Kazakhstan to ensure the progressive development of the export capacity in all the major export routes, as well as to secure transportation of oil and petroleum products to domestic markets.
In 2014 and 2015, the trade volumes in terms of tenge of Kazakhstan Stock exchange (KASE) grew with an enormous pace, with annual growth of 45.9% and 97.0% respectively. In 2014, the trade volumes reached 46.7 trillion tenge ($260.4 billion), while in 2015 the trade volumes reached 92.0 trillion tenge ($429.6 billion).
In recent years, the environmental situation in China has become a global issue. For decades, China has been focused on the industrial development of the country without any regard to the environment. Such negligence has led some areas of the country to the brink of natural disaster.
During the Soviet Union, Dushanbe and Tashkent used to have the tightest economic cooperation within the Central Asian region. When the Soviet Union collapsed, the Central Asian republics immediately felt its effect in terms of the economic recession, infrastructural disintegration and political tensions.
Depopulation, aging and shrinking number of the working-age population are some of the biggest challenges which Russian labor market face today. The year 1995 is an important year for demographic dynamics in Russia because after that year number of population continuously decreased and according to forecasts it will fall even further in the near future. The current problems could be solved by either natural or migration-based option.
The Central Asian Energy System (CAES) was designed and built during the Soviet period, when political borders and sovereignty issue were not an obstacle to ensure parallel operation of national energy sectors. Resource sharing mechanism ensured stability and reliability of energy supplies to meet population and economic needs.
The Eurasian region gained special importance after the collapse of the Union of Soviet Socialist Republics. The region attracts the attention of the great powers with its socio-economic, cultural, political and security aspects and the energy resources it possesses.
Over the last two decades, the banking sector has expanded significantly in the economy of Kazakhstan. The highest development in the banking sector took place in the period between 2000 and 2008 (until 2008 world economic crisis). At that period, growing oil prices and cheap funding in external financial markets had positive effects on the country’s banking sector.