Central Asia: Implications of Russia’s War in Ukraine
This report examines the geopolitical, economic, and security impacts of Russia's war in Ukraine on the Central Asian region. It analyzes how the conflict affects Central Asian countries' relations with Russia and other global powers, their economic dependencies, and regional stability. It also discusses the responses of Central Asian governments to the war.
Referenced by
Central Asian currencies are closely linked to the Russian ruble. The ruble's rapid depreciation following the renewed invasion of Ukraine in 2022 had a cascading effect on Central Asian currencies.
Defense
Claim
CAS countries, historically reliant on Russia as a security guarantor, are now seeking alternative security partners and considering greater autonomy in their security decisions due to the evolving geopolitical situation.
Defense
Claim
Central Asia's financial sectors have strong ties with Russia's financial sector, and some major Central Asian banks had Russian subsidiaries. Sanctions on Russian financial institutions have disrupted financial transactions in the region.
Defense
Claim