Russian President Vladimir Putin's state visit to Astana on May 27-28 produced a joint declaration on the "seven foundations" of friendship and good-neighborliness between Kazakhstan and Russia and a package of bilateral agreements, including accords on a $16.5 billion nuclear power plant and Russian export-credit financing for 85% of the project, Qazinform reported on May 28. Other deals included a tenge-ruble currency swap and a framework agreement to raise Russian oil shipments to China through Kazakhstan from 200,000 to 250,000 barrels per day.

Higher production at the Tengiz oil field will add to Kazakhstan's sulfur volumes, making storage, transport and export access increasingly important for oil output continuity. Although Astana presented the new agreements as part of normal allied cooperation with Moscow, the visit also underscores the practical limits of Kazakhstan's efforts to diversify without jeopardizing its core economic ties with Russia.