Kazakhstan is an important world oil producer, at about 1.8 million barrels per day, of which some 1.5 million bpd are exported. The Caspian Pipeline Consortium (CPC), which connects Kazakhstan’s oil fields to the port of Novorossiysk, Russia, on the Black Sea, delivers around 1.2 million barrels of crude oil daily from Kazakhstan to Europe.
The country’s ambassador to the US, Yerzhan Ashikbayev, told RIA Novosti on Thursday on the sidelines of the Trans-Caspian Forum in Washington, that “the stability of oil supplies from Kazakhstan to the global market relies on transit through Russia… He added that any disruption to flows caused by sanctions could trigger a dire scenario.”
