Russia and Kazakhstan Forge Strong Oil Alliance

Russia and Kazakhstan have agreed to enhance cooperation in the oil sector after discussions between their presidents. Kazakhstan, reliant on Russia for its energy exports, sees 80% of its oil exported through the Caspian Pipeline to Russia's Black Sea terminal. The meeting also covered gas projects and related regional impacts.

In a significant development, Russia and Kazakhstan have announced plans to strengthen their collaboration in the oil sector. The agreement follows talks held at the Kremlin between Russian President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev.

Kazakhstan, a landlocked nation, heavily depends on Russia for routing its energy exports, with the Caspian Pipeline Consortium (CPC) playing a crucial role. The CPC-run pipeline facilitates over 80% of Kazakhstan's oil exports to Russia's Black Sea terminal.

During their discussion, Presidents Putin and Tokayev addressed various topics, including gas cooperation, the impact of U.S. sanctions, and strategic energy alliances. They also considered Kazakhstan's regional gas supply and transit arrangements through Russia, with hopes of extending transit to third countries.

(With inputs from agencies.)