Kazakhstan Calls For Freedom Of Choice, Instead Of Only Rubles, When Paying For Russian Gas

While Kazakhstan exports gas to Russia, it also imports to some parts of the country since most Kazakh oil and gas is found in western regions.

Kazakh Energy Minister Bolat Aqsholaqov has called for freedom of choice in the matter of what currency to use when paying for Russian natural gas, rather than following Moscow’s demand for countries to pay in rubles only.

Aqsholaqov told reporters on October 21 that members of the Russia-led Eurasian Economic Union (EAES) should not be restricted to the Russian national currency in the payments, which were sparked by international sanctions against Moscow that cut it off from the global financial payment system because of the war in Ukraine.

"Our position has been that it must be up to the partners. It must be a commercial condition in bilateral agreements. When buying [Russian] gas, a side can choose any currency. It is about freedom to choose that currency," Aqsholaqov said.

Aqsholaqov added that Russia had proposed using the ruble as the currency for the future single market for oil and gas within the grouping that also comprises Armenia, Belarus, and Kyrgyzstan. According to Aqsholaqov, the creation of such a market is currently under discussion.

In March, Moscow demanded that Western nations pay in rubles for Russia's energy supplies to avoid its assets being frozen by foreign banks and to reduce the U.S. dollar's role in global trade.

Three other members of the EAES -- Armenia, Belarus, and Kyrgyzstan -- have said they are ready to pay in rubles for Russian gas deliveries.

While Kazakhstan, the second-biggest economy in the EAES, exports gas to Russia, it also imports to some parts of the country since most Kazakh oil and gas is found in western regions.

Based on reporting by Tengrinews and Arbat Media