Russian companies grappling with stinging international sanctions are exploring ways to relocate. The bulk of the enterprises and individuals making the move out of Russia to Kazakhstan are involved in the IT sector. The exodus from Russia could have a major impact on Kazakhstan and other neighboring countries’ economies. Companies in Russia hit by the international sanctions imposed in reprisal for the invasion of Ukraine are increasingly exploring ways to relocate to neighboring countries, including Kazakhstan, according to entrepreneurs working in the export sector. Speaking at a press conference on March 23, Alexander Tsygankov, a representative from KazakhExport, a state-owned Nur-Sultan-based export insurance company, said that some are looking to use Kazakhstan as a transit nation for goods, while others want to move production facilities there altogether. Kazakhstan’s development institutions, including KazakhExport, which is designed to support the export of non-mineral resource goods, is adapting to meet the challenge […]