Russia and Kazakhstan agree on currency swap and nuclear plant financing
The deals were signed during President Putin's visit to Astana, with Russia's central bank and Kazakhstan's National Bank formalizing the ruble-tenge swap.
By Polaris Newsroom
28 May, 2026
President Vladimir Putin visited Kazakhstan and the two countries signed multiple economic agreements on Thursday. The deals included a currency swap between the two nations and a financing commitment for a major energy project.
Bank of Russia Governor Elvira Nabiullina and National Bank of Kazakhstan Governor Timur Suleimenov signed the ruble-tenge swap agreement in Astana. This arrangement allows the two central banks to exchange their currencies under agreed terms.
Russia also agreed to provide financing for Kazakhstan's first nuclear power plant. Rosatom, Russia's state-run nuclear company, was selected last year to build the facility.
The deals strengthen economic ties between the two neighbouring nations. Currency swaps typically help countries manage their foreign exchange reserves and support trade between them.
The nuclear plant project represents a significant infrastructure investment for Kazakhstan. Details on the size of the financing or the plant's timeline were not immediately specified.
Reporting incorporates material from a third-party source. Original
