Financial Times FT.com

Kazakhstan to take back resources

By Isabel Gorst in Moscow

Published: February 14 2008 19:08 | Last updated: February 14 2008 19:08

Kazakhstan will this year nationalise all natural resource projects where investors have breached contracts, Karim Massimov, prime minister, said on Thursday.

Mr Massimov also said no new natural resource contracts would be negotiated until a new tax code enabling the government to squeeze more revenues out of oil and gas investors was finalised this autumn.

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