Kazakhstan is withdrawing from the agreement of the Commonwealth of Independent States (CIS) on the Interstate Currency Committee. President Kassym-Zhomart Tokayev signed a corresponding decree.

This is reported by ZonaKz.

"To approve the protocol on the termination of the agreement on the creation of the Interstate Currency Committee of May 26, 1995, committed in Minsk on October 25, 2013," the presidential decree, which has already entered into force, reads.

We note that the committee was established in order to facilitate organization of multilateral cooperation in the field of currency and credit relations, convergence and improvement of currency legislation concerning multilateral settlement and credit relations, development of forms and methods of coordination of monetary and currency policy of member states of the agreement on creation of CIS payment union as well as cooperation and concerted action in currency control issues.

As you know, relations between Kazakhstan and Russia have recently deteriorated. The disagreements between the presidents of the countries arose against the background of the war in Ukraine.

In particular, the Kazakh leader Kassym-Zhomart Tokayev said back in June that his country was not going to recognize the independence of the "quasi-state L/DNR.

Russian propagandists and officials began to be outraged by Kazakhstan's position.

Later, the Russian Federation, in its "good neighborly" style, reduced the rate of shipments of Kazakh oil. In response to Moscow's actions, Nur-Sultan decided to supply its oil bypassing Russia.