The Russian-Ukrainian war has led to unpredictable events and global tension. Military actions commenced around the world, which caused distrust among countries. As a result, economies of different states suffer extreme ups and downs. For instance, according to Eurostat, the statistical office of the European Union, in the first half of 2022, energy prices in Europe increased sharply compared with the same period in 2021, from €22.0 per 100 kWh to reach €25.3 per 100 kWh. While average gas prices also increased compared with the same period in 2021 from €6.4 per 100 kWh to €8.6 per 100 kWh in the first half of 2022. In addition, the annual inflation rate hit a new record high of 10.7 per cent in October 2022. The war may last for years and years, and none of the parties is willing to yield, which means the energy crisis will not end in the predictable future.
A newly emerged Iron Curtain dramatically impacted the Western world and Russia. Currently, Putin is suffering economic sanctions, including various forms of trade barriers, tariffs, and restrictions on financial transactions. And while investors are fleeing Russia in the events of Western sanctions, its neighbour, Kazakhstan, is thriving and striving for the title of a new regional powerhouse. And one of the goals is to become literately a “power” house. A re-elected for a new term, President Tokayev has shown an openness for foreign direct investment (FDI) into evolving industries, such as “green” hydrogen produced by renewable energy sources, to turn the entire state into a “green hub”.