Kazakhstan Stops Exporting Refined Products

Kazakhstan Stops Exporting Refined Products

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.

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