Trade and Economic ‘Wars’ Between the USA and Russia, the Consequences for the Economy of Kazakhstan

Abaidullayeva M. Khajiyeva G. Karimova M. Arupov A. Zakirova D.
2023 Kluwer Law International

Journal of World Trade
2023 #57 Issue 4 663 - 688 pp.

There has been a confrontation between Russia and the USA since the end of World War II. After the Union’s collapse, it became more and more evident and open, especially in 2014 and 2021. However, such events between large states could not but affect the development of other countries, which is why it remains relevant to consider the impact of this economic ‘war’ on them. As part of the work, the emphasis is on the consequences of their confrontation on the economy of Kazakhstan. Thus, the work aims to analyse the history of trade and economic relations between the USA and Russia in terms of changes in trade turnover, sanctions chronology, exchange rates, and other indicators and also to show how this affected the economic well-being of Kazakhstan. During the study, the authors concluded that the beginning of the trade and economic ‘war’ between the USA and Russia caused significant financial losses for Kazakhstan due to a decrease in trade turnover with Western countries, a decrease in foreign direct investment flows, and a weakening of the national currency. The article brings new knowledge to understand the modern features of the foreign economic policy of the USA and Russia.

Crises , Foreign economic policy , International economics , International relationships , Investments , Sanctions

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Department of World and National Economy, Turan University, Almaty, Kazakhstan
Sorbonne-Kazakhstan Institute, Abai Kazakh National Pedagogical University, Almaty, Kazakhstan
Institute of World Economy and International Relations, Turan University, Almaty, Kazakhstan

Department of World and National Economy
Sorbonne-Kazakhstan Institute
Institute of World Economy and International Relations

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