Russia and Kazakhstan need to depend less on oil prices

Alpari Financial analyst Alexander Razuvaev gives a press conference on the effect of oil prices on Russia and Kazakhstan, Astana, Kazakhstan, September 27, 2018.

While oil is expensive, Kazakhstan and Russia should not worry, Russian analyst says.

Russia and Kazakhstan are the largest oil producers in the post-Soviet republics and the economies of these two countries depend primarily on the oil sector.

“Oil prices are a key factor for all the oil exporting countries and their currencies. While the commodity conjuncture is very favourable, and the economy of Kazakhstan looks healthy, its prospects are moderately optimistic,” Alpari Financial analyst Alexander Razuvaev said in reference to the current conjuncture of prices for oil, addin...

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