Central Asia is Russia’s sphere of Influence, and Moscow is also the security provider in the region. In addition, Central Asian economies are highly dependent on remittances from the Russian Federation. Central Asia has been heavily impacted by the significant drop in the value of the Russian ruble as a result of Western sanctions. Their economies are extremely interlinked with Russia’s that when the ruble falls, their national currencies fall with it, and they are severely affected. Against this background, the Russia-Ukraine Conflict has serious repercussions for Central Asian nations.

To understand the impact of the Russia-Ukraine Crisis on Central Asia, listen to this insightful podcast by Amb Ashok Sajjanahar (former Indian Ambassador to Kazakhstan) and Dr Pravesh Kumar Gupta, Senior Research Associate, VIF