By contrast, Russia's central bank was either too weak or unwilling to close major banks before they went belly-up after August. Like other Central Asian leaders who have shunned democracy, Mr. Nazarbayev, who won another term in January elections criticized by Western observers as unfair, sees himself as the father of the nation. A grand residence was built for him in Almaty. Government publishing houses pump out adoring biographies of him. In a visit to his office in Astana, one is led through a succession of chambers and antechambers, the last adorned with oil paintings of Kazak chieftains Abulkhair Khan and Ablai Khan, who had some success in uniting the Kazaks in the 1700s.
Blood ties appear to be a big key to wielding influence in Kazakstan.
But Western oil company executives make it no secret that they like Mr. Nazarbayev, who has guaranteed a stable, relatively calm investment climate. Investors grumble about corruption in high places, and some foreign companies, like Belgian utility Tractebel SA, have taken their feuds with the government public. But investors privately express more anxiety about life after than with Mr. Nazarbayev, who hasn't designated a successor. For now, the government sees smoother sailing ahead for the economy. A main priority is to build multibillion-dollar pipelines out of the country that will reduce Kazakstan's dependence on Russian oil routes.