Kazakhstan outbound remittances halve in August after EU sanctions on Zolotaya Korona

September 30, 2026 at 08:40 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Outbound remittances from Kazakhstan via international money transfer systems fell to 27.9 billion tenge in August 2026, half of July's 56.4 billion tenge. Transfers to Russia dropped 14.3 times to 1.2 billion tenge after the EU's 21st sanctions package targeted Zolotaya Korona's operator and settlement center.

Key Facts

Outbound remittances from Kazakhstan fell to 27.9 billion tenge in August 2026, down from 56.4 billion tenge in July.
Transfers to Russia dropped 14.3 times to 1.2 billion tenge in August.
Inbound remittances to Kazakhstan totaled 12.2 billion tenge in August, down 24% from July.
The EU's 21st sanctions package on July 24, 2026, targeted NKO Mobile Card and RNKO Payment Center, operator and settlement center of Zolotaya Korona.
Kazakhstan's external debt reached 186.7 billion dollars in the first half of 2026, while external assets totaled 130.8 billion dollars.

August Remittance Decline

In August 2026, outbound remittances from Kazakhstan through international money transfer systems totaled 27.9 billion tenge, half of July's 56.4 billion tenge. DATA HUB, citing National Bank data, calculated that the August figure was the lowest since at least January 2016 after adjusting for inflation. Zolotaya Korona, previously the dominant system for outbound transfers, no longer appears in National Bank statistics for foreign remittances from August.

Russia and Other Destinations

Transfers to Russia fell 14.3 times to 1.2 billion tenge in August, the largest single factor in the overall decline. Transfers to Uzbekistan decreased 39% to 12.3 billion tenge, to Kyrgyzstan by 75% to 0.7 billion tenge, and to Turkey by 21% to 4.6 billion tenge. Inbound remittances from Russia dropped 11.9 times to 0.2 billion tenge in August.

Sanctions and External Debt

The EU's 21st sanctions package on July 24, 2026, included NKO Mobile Card and RNKO Payment Center, the operator and settlement center of Zolotaya Korona. Kazakhstan's external debt rose by 12.9 billion dollars in the first half of 2026 to 186.7 billion dollars, according to the National Bank. The debt-to-GDP ratio declined from 59.9% to 56.6% as dollar-denominated economic growth outpaced external liabilities. Intercompany debt accounted for 86.2 billion dollars, or 46% of total external debt, while public sector external debt stood at 18.6 billion dollars. Kazakhstan's external assets, including international reserves, reached 130.8 billion dollars, exceeding external liabilities by 112.2 billion dollars.