Russia Is Losing Its Grip on Central Asia’s Power Sector

An important revenue stream in Central Asia for Russia appears in danger of slowing to a trickle. The international power sector has long been lucrative for Russia, via projects developed by Rosatom, the state-controlled atomic energy entity, and other Kremlin-connected companies. But the ability of Russia and its corporate proxies to finance deals appears to be encountering increasing difficulty. Accordingly, business is slipping. Evidence of financing difficulties for Russian companies is mounting across Central Asia. For example, Kazakhstan…