Kazakhstan appoints new defense minister after Caspian deaths

October 2, 2026 at 04:52 PM2 min

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

Kazakhstan appointed former army commander Aidos Myrzakhmetov as defense minister on September 27, replacing Dauren Kosanov after 14 servicemen died in a Caspian Sea exercise. President Kassym-Jomart Tokayev ordered a military reform plan within 10 days. The appointment came as a court rejected NCOC's challenge to a 2.3 trillion tenge environmental fine.

Key Facts

Aidos Myrzakhmetov was appointed minister of defense on September 27, replacing Dauren Kosanov.
14 servicemen died during an exercise in the Caspian Sea last week.
A court in Atyrau rejected NCOC's claim against a 2.3 trillion tenge ($5.2 billion) environmental fine on September 23.
Kazmunaigas announced on September 30 its intention to take back direct control of KMG Kashagan BV, which owns 16.88% in NCOC.
Solidcore Resources shareholders approved a share buyback program of up to $1.2 billion on September 30.

Defense Ministry Shakeup

Former army commander Aidos Myrzakhmetov was appointed minister of defense on September 27. He replaced Dauren Kosanov, who was fired after 14 servicemen died during an exercise in the Caspian Sea last week. On the same day, President Kassym-Jomart Tokayev met with ministry officials and ordered a plan to reform the military and defense institutions within 10 days. Tokayev said the incident exposed numerous shortcomings and a lack of professionalism in the military.

Kashagan Legal Disputes

A court in Atyrau rejected an earlier decision that ruled illegal the collection of an environmental fine from NCOC, the consortium operating the Kashagan offshore field. On September 23, the court denied NCOC's claims regarding the 2.3 trillion tenge ($5.2 billion) fine. On September 30, state-owned Kazmunaigas announced its intention to take back direct control of KMG Kashagan BV, an Amsterdam-based subsidiary that owns 16.88% in NCOC. KMG Kashagan was previously owned by Cooperative KazMunaiGaz UA, another subsidiary of the national company. The consortium is embroiled in a number of legal disputes with the government.

Corporate and Financial Moves

Shareholders of Kazakhstan-based gold miner Solidcore Resources approved on September 30 a share buyback program of up to $1.2 billion. The buyback concerns 23.2% of the company's shares. The company's largest shareholder Maaden International Investment, owned by a consortium of Omani investors, could increase its stake up to 41.3%. After the European Union imposed sanctions on Zolotaya Korona in July, transfers between Kazakhstan and Russia fell by more than 14 times, Meduza reported on October 1. ING analysts said on October 2 that the tenge's 4.8% appreciation against the US dollar in September was driven primarily by private capital inflows, including non-resident demand for tenge-denominated government bonds.