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Kazakhstan Drafts Plan To Protect Economy From Ukraine Sanctions

The government of Kazakhstan has drafted a plan to prevent possible effects to the country's economy by Western sanctions against Russia over the situation in Ukraine.

Kazakhstan's Economy Minister Erbolat Dosaev said at a cabinet session in Astana on August 6 that the plan had been drafted at President Nursultan Nazarbaev's request and would come into effect as of September.

The details of the plan were not revealed.

Dosaev added that his ministry is working on "adapting the economy and businesses" to the conditions of the Eurasian Economic Union. Kazakhstan, Russia, and Belarus are members of the union, which is scheduled to start functioning in January 2015.

Nazarbaev, who attended the cabinet session, called on the government to "thoroughly" follow the situation on world markets and adapt economic policies accordingly.

With reporting by KazTAG
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