Russian retailers in talks to import goods via Kazakhstan -report

ALMATY, Could 3 (Reuters) – Russian retailers Magnit (MGNT.MM) and Lenta (LENT.MM) are in talks with their suppliers and different events about importing items by way of Kazakhstan, Russia’s southern neighbour and shut accomplice, a Kazakh official was quoted as saying on Tuesday.

Rouble volatility and provide chain disruptions have hit the Russian market since President Vladimir Putin despatched troops into Ukraine on Feb. 24 in what Moscow says is a “particular navy operation” to degrade Kiev navy capabilities and root out what it calls harmful nationalists.

The West has imposed sweeping sanctions on Russia in an effort to power it to withdraw its forces, whereas many overseas corporations have ceased or suspended their Russian operations.

Working by middleman corporations in Kazakhstan might in principle enable Russian retailers to resolve some points brought on by sanctions, similar to making funds in overseas forex.

Yerkebulan Orazalin, head of the entrepreneurship and funding division on the mayor’s workplace of Almaty, Kazakhstan’s largest metropolis, mentioned Magnit and Lenta have been wanting particularly at items whose provide on to Russia has been restricted, Kazakh information web site Tengrinews.kz reported.

Reporting by Olzhas Auyezov; Modifying by Alexander Smith

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