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The Regions This Week
June 22, 2018 www.intellinews.com I Page 9
Eurasia
Switzerland plans to return to Uzbekistan approximately CHF700mn (€605.8mn) frozen in connection with money laundering investigations involving the disgraced daughter of the late former Uzbek autocrat Islam Karimov. Karimova was for years seen as her father’s heir until she was found to be a central figure in an international probe that involved Nordic telecom group TeliaSonera, and Russia’s VimpelCom and MTS.
Kazakhstan intends to more than double exports of foodstuffs and other agricultural products over the next five years, Deputy Agriculture Minister Arman Yevniyev told a government meeting. Yevniyev said his ministry’s plans to overhaul the industry’s subsidy and management systems could help generate up to $2.6bn in annual export revenue.
The Iranian authorities permitted female foot- ball fans in Tehran to enter stadiums to watch the World Cup 2018 in Russia on large projector screens with their families. Unfortunately, the delight at the public viewings breakthrough was tempered by a 1-0 defeat at the hands of Spain.
Kyrgyzstan detained another former prime min- ister, Jantoro Satybaldiyev, on corruption charges. Satybaldiyev was detained in connection to a graft case relating to a power station that has already claimed fellow former premier Sapar Isakov.
Nearly 200 people were hospitalised in Azerbai- jan after reportedly being poisoned by pesticides in cotton fields in the last nine days. Such an in- cident will cast a shadow over government efforts to revive the cotton industry amid over-reliance on revenues from hydrocarbon exports.
Mongolia-based Xanadu Mines completed
a share placement aimed at domestic and international institutional and sophisticated investors to raise $10mn at 17 cents per share. Xanadu Mines is the owner of Mongolia’s largest undeveloped copper-gold deposit.
Tajik liquefied gas prices rose by 15% m/m between June 1 and 18. The country imports 80% of its liquefied natural gas from Kazakhstan, whose government recently adopted new regulations to keep liquefied gas prices artificially high and prevent “illegal” exports of the fuel abroad.
Georgia’s new government under Mamuka Bakhtadze was voted in by the parliament. Bakhtadze said before the vote he is planning to cut the number of ministries and further Georgia’s integration into the Euro-Atlantic area.
French Finance Minister Bruno Le Maire conceded that many French companies will not be able to stay in Iran after the US imposes its new sanctions on the country, AFP reported. His remarks will underline concern in Tehran that when it comes to fighting Washington's economic aggression towards the Islamic Republic, the EU's major powers have been rather too eager to talk the talk, but far from impressive when it comes to credible action.
Cash-strapped Turkmenistan introduced a cashless pensions payment system for retirees amid the ongoing economic crisis that has depleted the country’s budget, the opposition-run Chronicles of Turkmenistan reported. The new pensions payment system is being implemented as the country suffers from shortages of basic goods accompanied by a rapid devaluation of
the Turkmen manat and inflation rates that have placed it on hyperinflation watch.
Armenian MP Manvel Grigorian was arrested
on suspicion of stealing military supplies including vehicles and weapons, and using food aid collected for soldiers by schoolchildren to feed animals in his private zoo. The former general has been stripped of his parliamentary immunity.