Kazakh President Kassym-Jomart Tokayev stressed diplomacy in resolving the Ukraine conflict as U.S.-Russia talks progress, while Kazakhstan grapples with sanctions-related economic challenges.

Kazakh President Kassym-Jomart Tokayev reaffirmed his country’s position on the Ukraine conflict, emphasizing the importance of diplomacy in achieving peace. Speaking at the City of Working Professions festival, Tokayev underscored Kazakhstan’s long-standing stance in favor of peace and dialogue between the warring parties.

“From the very beginning, we have called for an end to the war and for a resolution through diplomatic negotiations,” said Tokayev.

Tokayev welcomed the recent political dialogue between the major powers involved in the conflict, describing it as a positive development that could also benefit Kazakhstan. He reaffirmed Kazakhstan’s commitment to stability, highlighting the country’s policy of “unity in diversity” and urging citizens to embrace national cohesion.

This statement followed a phone call between U.S. President Donald Trump and Russian President Vladimir Putin, focused on the Ukraine war. On Wednesday, Trump described the conversation as "lengthy and highly productive," adding that both delegations had agreed to “start negotiations immediately” to end the nearly three-year conflict in Ukraine. The U.S. president later told reporters that he and Putin might soon meet in Saudi Arabia for peace talks on Ukraine.

As the debate over potential peace talks continues, European leaders emphasized that any negotiations on Ukraine must include Kyiv.

Tokayev’s commitment to diplomatic efforts comes at a time when Kazakhstan is also facing complex economic challenges related to its geopolitical ties, particularly with Russia. Azat Peruashev, head of the Ak Zhol political party, revealed that Kazakhstani banks are refusing to lend to domestic industrial manufacturers who export products to Russia, citing the risk of secondary sanctions.

Peruashev also noted that banks are concerned that products manufactured in Kazakhstan could be sanctioned by the U.S. and the EU, which would expose them to secondary sanctions. As a result, banks are requiring manufacturers to guarantee that their products will not be exported to Russia. If such guarantees are not provided, banks may restrict their payments or loans.

“We’re talking about industrially processed products. These include electricity transformers, energy equipment, and other dual-use products,” the MP added.

Peruashev further clarified that Kazakhstani manufacturers who primarily export to Russia are now facing significant losses. However, he emphasized that the banks’ stance is self-imposed, as they have not received any official directives from the government.

The European Commission has also stated that it has no intention of sanctioning Kazakhstani goods exported to Russia. Instead, Brussels is mainly concerned about the potential re-export of already sanctioned goods to Russia through Kazakhstan. Banks have suggested that the issue should be addressed at the governmental level and through international negotiations.

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