What major energy and financial agreements did Russia and Kazakhstan sign during Putin's visit to Astana?

Russia and Kazakhstan signed a ruble-tenge currency swap agreement, brokered by Bank of Russia Governor Elvira Nabiullina and National Bank of Kazakhstan Governor Timur Suleimenov, and an agreement for Russian financing of Kazakhstan’s first nuclear power plant — a $16.4 billion project to be built by Russia’s state-run Rosatom.

Why is Putin’s visit to Kazakhstan considered strategically important for Russia amid shifting regional dynamics?

Putin’s visit is crucial for the Kremlin to maintain influence in Central Asia, a region where Russia’s sway has waned since its invasion of Ukraine — as China has become the region’s top trading partner and Kazakhstan has strengthened ties with the EU, the US, and Middle Eastern nations.

Russia and Kazakhstan Sign Energy, FX Swap Deals as Putin Visits

May 28, 2026

During his visit, President Putin signed agreements for a $16.4 billion nuclear power plant and a currency swap with Kazakhstan. Additionally, both nations agreed to increase Russian oil transit to China to 12.5 million metric tons annually.

bloomberg

2026-05-28

Russia and Kazakhstan Sign Energy, FX Swap Deals as Putin Visits

2026-06-02

Putin's 'Davos' Haunted by War and Stagnation Despite the Swank of Influencers

2026-08-24

Putin Authorizes State Takeover of Vulnerable Critical Infrastructure

2026-09-17

Putin says Russia's 2027 budget deficit seen at around 2% of GDP

Russia and Kazakhstan Sign Energy, FX Swap Deals as Putin Visits

FAQ