Kazakh leader says Russia-led bloc tested by oil price

Oil prices affecting the Eurasian Economic Union

Kazakh leader says Russia-led bloc tested by oil price

World Bulletin / News Desk

The Eurasian Economic Union, a political and trading bloc led by Russia, faces challenging times because of the fall in global oil prices, Kazakh President Nursultan Nazarbayev said on Friday.

He was speaking in oil-producing Kazakhstan's capital, Astana, before talks with Russian President Vladimir Putin and Belarussian President Alexander Lukashenko. The bloc groups the three countries and Armenia, andKyrgyzstan will join this year.

"Unfortunately, our union is now being tested by great challenges, because export prices have fallen, especially in Russia and Kazakhstan, for oil and other export commodities," Nazarbayev said. 

Last Mod: 20 Mart 2015, 10:54
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