Two Banks of Kyrgyzstan Sanctioned by the European Union

Ирэн Орлонская Exclusive
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Two banks of Kyrgyzstan have been sanctioned by the European Union

It is reported that the European Union has imposed a ban on financial transactions with a number of banks from the CIS.

This list also includes Belarusian Bank BelVEB, Belgazprombank, Alfa-Bank, Sberbank, and VTB Bank, as well as Kazakhstan's VTB Bank and Kyrgyzstan's "Tolubai" and Eurasian Savings Bank.

Covert sanctions have affected Bank "Tolubai" and Eurasian Savings Bank, which have been restricted as banks providing payment services and facilitating the supply of crypto assets to Russia.
Thus, at the moment, four banks in Kyrgyzstan are under sanctions due to allegations of circumventing anti-Russian restrictions. Previously, the UK imposed sanctions against "Capital Bank," which is fully owned by the Ministry of Finance of Kyrgyzstan, citing its use by Russia for payments for military goods. "Keremet Bank" has also been sanctioned by the US, facing similar accusations.

According to the 19th package of sanctions, the EU has prohibited its financial institutions from any transactions with the specified banks. Some of them had already been disconnected from the SWIFT system, but the possibility of conducting transactions through alternative systems, including direct messaging, remained.
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