Putin: Russia is Kazakhstan's major economic partner

Russia and Kazakhstan have succeeded in taking bilateral trade to new impressive levels, achieving the record benchmark of $28 billion last year, Russian President Vladimir Putin said in an article for the Kazakhstanskaya Pravda daily.

"Russia is one of Kazakhstan's major economic partners. Our states have actively supported Eurasian economic integration and were among the founders of the Eurasian Economic Union," Vladimir Putin wrote.

Last year, volume of bilateral trade reached a new peak hitting the $28 billion mark, and already exceeded $20 billion between January and September 2024. Besides, settlements in national currencies have played an increasing role, which has helped protect business transactions from the negative impact of external factors.

The Russian head of state stressed Russia and Kazakhstan are engaged in equally constructive cooperation in the oil and gas sector.

"Due to the activities of the Caspian Pipeline Consortium, over 80% of Kazakhstan's oil is exported to foreign markets via Russian territory and Russian port infrastructure on the Black Sea," Vladimir Putin wrote.