At a recent meeting discussing the issue of lifting sanctions on Kyrgyz banks, the First Deputy Chairman of the Cabinet of Ministers, Daniyar Amangeldiev, met with the European Union's Special Envoy for Sanctions, David O'Sullivan.
During the discussion, the parties exchanged views on compliance with restrictive measures. Amangeldiev emphasized that the republic adheres to a professional approach to risk management and is actively working to strengthen financial monitoring mechanisms.
The Kyrgyz side also noted that European exporters must be responsible for the integrity of their supplies by carefully checking their counterparts and the purposes of goods.
Meeting participants focused on the state of the banking sector, specifically presenting information about the blocking of suspicious transactions in commercial banks and tightening control procedures.
For further cooperation, it was proposed to establish transparent criteria for risk assessment and to set up operational feedback.
The parties developed a phased plan to address issues related to restrictions on specific financial institutions in the country.
David O'Sullivan positively assessed the openness of the Kyrgyz authorities, noting that transparency is the key to trust from the international community. He provided specific proposals for technical cooperation aimed at removing banks from sanctions lists and minimizing potential risks. At the end of the meeting, partners confirmed their readiness for regular working contacts.
Sanction Pressure: Timeline of Events
Due to suspicions of circumventing sanctions against Russia, companies from several countries, including Kyrgyzstan, have become targets of sanction pressure from the EU and the USA.
Kyrgyzstan has repeatedly stated its disagreement with the sanctions imposed against its banks. President Sadyr Japarov, speaking at the UN podium in 2025, condemned the restrictions from the West as interference in the internal affairs of the country and pressure hindering the development of an economy that has not yet stabilized.
