Kazakhstan Stops Exporting Refined Productsadmin
Kazakhstan banned the export of all refined oil products, as the energy-rich Central Asian nation grapples with soaring fuel costs.
The announcement, made by Prime Minister Karim Masimov at a government meeting, comes just days after opposition parties called on his government to resign amid what they call a worsening economic climate.
Kazakhstan has huge oil and gas resources, but soaring prices for consumer products like diesel and other fuel are having a knock-on effect on the country’s agricultural sector.
The increase in the cost of diesel and gasoline have outstripped the rate of inflation, which is approaching an annual rate of 18 percent.