Kazakhstanis transfer 119 billion tenge to Russia in first half of 2026
This digest was compiled by AI from multiple sources — links to the originals are below.
Kazakhstanis send 303.1 billion tenge abroad via money transfer systems in January–June 2026, a 5.6% decline from a year earlier, with Russia receiving the largest share at 119 billion tenge. Inflows to Kazakhstan drop 8.4% to 96.5 billion tenge, widening the imbalance to 3.1 times. Transfers to Russia rose 16.8% year-on-year, bucking the overall decline and now account for nearly 40% of all outbound transfers.
Outbound Transfer Decline
Kazakhstanis sent 303.1 billion tenge abroad in H1 2026, a 5.6% drop from the same period in 2025, continuing a downturn from the 2022 peak of 495.8 billion tenge. According to Finprom, outflows have fallen 38.9% from that record, though DKNews.kz reports they are still 87.5% higher than in H1 2016. The decline comes despite a 16.8% rise in transfers to Russia, the dominant corridor.
Russia's Dominance
Russia received 119 billion tenge, or 39.3% of all outbound transfers, marking a 16.8% year-on-year increase. Uzbekistan followed with 73.2 billion tenge, and Turkey with 47.3 billion tenge. DKNews.kz lists other significant destinations: Georgia (19.2 billion), Kyrgyzstan (9.5 billion), and China (7.2 billion). Inflows from Russia fell 12.3% to 22.2 billion tenge, though it remained the top source country.
Sanctions on Zolotaya Korona
In July, EU sanctions on RNKO Payment Center, which operates the Zolotaya Korona system, halted transfers from Russia to Kazakhstan. Zolotaya Korona handled 83% of all outbound transfers from Kazakhstan and 46% of inbound flows in H1 2026. Analysts at Finprom expect funds to shift to alternative systems or banks, but the full statistical impact will only become clear in second-half data.
What's Next
Analysts note that second-half data will reveal the initial effects of the Zolotaya Korona sanctions on transfer volumes. It remains unclear whether the Russia corridor will shrink or see transactions migrate to other channels.
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Kazakhstanis transfer 119 billion tenge to Russia in first half of 2026
