BISHKEK (Reuters) -Kyrgyzstan voiced regret on Friday over the inclusion of several Kyrgyz entities in the European Union's latest Russia sanctions list, a move it called "one-sided sanctions pressure
Kyrgyzstan Critiques EU's Sanctions on Banks Linked to Russia
Kyrgyzstan's Position on EU Sanctions
BISHKEK (Reuters) -Kyrgyzstan voiced regret on Friday over the inclusion of several Kyrgyz entities in the European Union's latest Russia sanctions list, a move it called "one-sided sanctions pressure".
Impact on Financial Institutions
In a statement, the foreign ministry of the Central Asian state said Kyrgyzstan "strictly observes its international obligations" and pursues an "open and constructive dialogue" with EU partners to prevent sanctions-evasion risks. It invited Brussels to initiate an independent audit.
Economic Growth Amid Sanctions
The sanctions, part of the EU’s 19th package in response to Russia’s invasion of Ukraine, target several banks and companies, including two Kyrgyz lenders, Tolubay Bank and Eurasian Savings Bank. Two banks in neighbouring Tajikistan were also sanctioned.
Political Stance and International Relations
Three other Kyrgyz banks have previously been sanctioned by Western countries including the U.S. and Britain for facilitating Russian sanctions evasion.
Some sanctions have targeted A7A5, a rouble-pegged stablecoin launched in Kyrgyzstan which Britain said in August had moved $9.3 billion in four months.
The central bank said it was assessing the impact of the new measures on the country’s financial system.
The EU and the United States have increasingly tightened oversight of financial flows through Central Asia, which Western officials say has become a key transit hub for goods and funds circumventing restrictions on Moscow.
Kyrgyzstan’s economy has expanded sharply since the war began, growing 10% year-on-year in the first nine months of 2025 thanks largely to booming trade with Russia and a surge in money transfers from migrant workers.
Speaking at the U.N. General Assembly in September, Kyrgyz President Sadyr Japarov called sanctions against his country "interference in the country's internal affairs".
Under Japarov, a populist and nationalist, Kyrgyzstan has taken a generally pro-Russian position on the Ukraine conflict.
(Reporting by Aigerim Turgunbaeva, Writing by Felix Light, Editing by William Maclean)
