During the discussion, Deputy Prime Minister Jamshid Khojaev noted that the new measures do not imply a complete ban on exports but are aimed solely at enhancing the monitoring of export operations to reduce the risks of international sanctions. He emphasized that a lack of proper control could lead to sanction pressure on the entire financial system of the country, which, in turn, could cause disruptions in banking transactions.
It should be noted that cellulose and cotton fluff can be used for military purposes, making them dual-use products. In this regard, all export transactions now require additional expertise. Exporters are required to check their foreign partners, and banks have the right to suspend operations in case of risks arising.
Abrokhuzha Turdaliev, Deputy Chairman of the Central Bank, added that contracts should be automatically canceled if the buyer is on the U.S. sanctions list (SDN) or if there is a risk that the products will be used in the defense sector. He also mentioned that some Uzbek companies have already been sanctioned due to supplies for powder-related productions, and that the blocking of payments by banks protects entrepreneurs from being placed on sanctions lists.
The new requirements have already impacted businesses. A representative of Bumfa Group Asia reported that since January 7, the export of their products has effectively been halted by the Customs Committee without justification. This has resulted in about 100 employees being sent on administrative leave, and the company's losses have exceeded 2 billion sums. Other producers of hygroscopic cotton have also reported delays in fund transfers and blockages of supplies to Europe.
The Ministry of Investments, Industry, and Trade stated that the regulations for issuing expert conclusions for exporters have already been developed and will be submitted for consideration by the Cabinet of Ministers in the near future. Deputy Prime Minister Jamshid Khojaev assured entrepreneurs that the delays are temporary, and after passing the inspection, exports will resume without obstacles.
