With the onset of military actions, Kyrgyzstan has become an important trade hub through which European goods subject to sanctions are entering Russia. Analysts from the Brookings Institution note that exports from the EU to Kyrgyzstan have sharply increased: in particular, supplies from Estonia have risen tenfold, while those from Finland, Poland, Greece, and other countries have increased by thousands of percent. Most of these goods are estimated to ultimately end up in the Russian market.
Additionally, the cryptocurrency exchange Grinex has started operating in Kyrgyzstan, using exclusively the stablecoin A7A5, which is pegged to the Russian ruble. This financial instrument, launched with the participation of a Russian defense bank and businessmen, is used for international settlements under the pressure of sanctions. It is forecasted that by the beginning of 2026, the volume of transactions with this stablecoin will reach approximately 100 billion dollars.
