It is noted that after the outbreak of hostilities, Kyrgyzstan became a key trade hub through which European goods subject to sanctions are entering Russia. Analysts from the Brookings Institution have recorded a sharp increase in supplies from EU countries to Kyrgyzstan: exports from Estonia have increased tenfold, while from Finland, Poland, Greece, and other countries — by thousands of percent. It is believed that a significant portion of these goods eventually ends up in the Russian market.
In addition to this, the cryptocurrency exchange Grinex has started operating in Kyrgyzstan, using exclusively the stablecoin A7A5, which is pegged to the Russian ruble. This instrument, created with the participation of a Russian defense bank and businessmen, is in demand for international settlements under sanctions. It is projected that by the beginning of 2026, the volume of transactions with this stablecoin could reach around 100 billion dollars.
