ALMATY – Russian retailers Magnit and Lenta are in talks with their suppliers and different events about importing items through Kazakhstan, Russia’s southern neighbour and shut accomplice, a Kazakh official was quoted as saying on Tuesday.
Rouble volatility and provide chain disruptions have hit the Russian market since President Vladimir Putin despatched troops into Ukraine on Feb. 24 in what Moscow says is a “particular navy operation” to degrade Kiev navy capabilities and root out what it calls harmful nationalists.
The West has imposed sweeping sanctions on Russia in an effort to pressure it to withdraw its forces, whereas many international firms have ceased or suspended their Russian operations.
Working by way of middleman firms in Kazakhstan may in concept enable Russian retailers to resolve some points attributable to sanctions, akin to making funds in international foreign money.
Yerkebulan Orazalin, head of the entrepreneurship and funding division on the mayor’s workplace of Almaty, Kazakhstan’s largest metropolis, stated Magnit and Lenta have been wanting specifically at items whose provide on to Russia has been restricted, Kazakh information web site Tengrinews.kz reported.
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