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Kazakhstan’s Tokayev Vows to Face Down Oligarchs After Deadly Unrest

  • Tokayev in address said there won’t be forced redistributions
  • Fuel price hikes this year spurred the unprecedented riots
Kassym-Jomart Tokayev
Kassym-Jomart TokayevPhotographer: Vyacheslav Oseledko/AFP/Getty Images

Kazakhstan’s President Kassym-Jomart Tokayev vowed to take on the country’s entrenched oligarchs after protests over fuel price increases early this year swelled into deadly riots in the central Asian nation.

“First of all, it is necessary to analyze artificially created monopolies,” Tokayev told domestic business leaders Friday as he outlined his economic vision, according to comments posted on the presidential press office’s website. “All niches must be open to competition.”