US to help Turkmenistan capitalize on sanctions against Russia

The United States is ready to help Turkmenistan benefit from sanctions against Russia, Donald Lu , US Assistant Secretary of State for the Bureau of South and Central Asian Affairs, said on November 6 in Ashgabat . It is reported by TASS .


“The largest banks in Kazakhstan have now been sold by their Russian owners to Kazakh owners. Alfa Bank and Sberbank are now Kazakh banks in Kazakhstan, meaning Kazakh businessmen have benefited from acquiring banks that were owned by Russian businessmen and are now owned by Kazakhs. We will be happy to work with the government of Turkmenistan and with the business community in order to assist them in obtaining more benefits for them from the sanctions regime,” the US representative was quoted by TASS.


The diplomat added that the United States is working with the government of Turkmenistan to minimize the impact of sanctions on Turkmen businesses and enterprises.


“I think that the risks for the country’s economy are very small. You don’t have much defense cooperation with Russia, you don’t do very much business with the Russian oligarchs. One area that may be difficult due to the sanctions regime is banking operations through Russia,” said Donald Lu.


According to information published by the press service of the US State Department, from November 6 to 11, the Assistant Secretary of State will visit Turkmenistan, Uzbekistan and Kazakhstan.


The purpose of the visits is to strengthen the commitment of “the United States to the independence, sovereignty, and territorial integrity of every country.”


In Turkmenistan, Lu will meet with exchange program alumni and senior government officials to discuss cooperation on a range of bilateral and regional issues.


The meetings with government officials of Uzbekistan will discuss issues of empowerment of women and girls, as well as issues of religious freedom.


In Kazakhstan, Donald Lu will hold talks with business representatives to discuss the economic stability of Central Asia, as well as civil society leaders to support their role in shaping the future of Kazakhstan.


While in the region, the assistant secretary will also discuss the launch of the Central Asia Economic Sustainability Initiative . As part of this initiative, the US will provide $25 million to strengthen regional trade routes, train a skilled workforce, and attract international investment to Central Asia.


Turkmen state media have not yet reported on Donald Lu’s visit.


Prior to his appointment as Assistant Secretary of State to the Bureau of South and Central Asian Affairs in September 2021, Donald Lu served as U.S. Ambassador to Kyrgyzstan from 2018 to 2021.



Source: Chronicles of Turkmenistan