Kazakhstan: US sanctions on Russia will not affect oil projects – FT

The Financial Times (FT) reported comments from Kazakhstan’s Economy Minister Timur Suleimenov, noting that fresh sanctions imposed by the US on Russia will not affect multi-billion dollar oil projects in Kazakhstan backed by Chevron, ExxonMobil and other western energy majors.

Suleimenov noted: “The pipeline, which links our oil to the seas, in particular, to Novorossiysk, is not covered by the sanctions. American companies, such as Chevron, who are also shareholders of the CPC, have themselves obtained from their parliament that such transit pipelines be excluded from sanctions. Therefore, in this case, the delivery of our oil to foreign markets will not be affected.”