Kyrgyzstan Halts Servicing of Over 240 Accounts as Part of Sanctions Risk Crackdown

Bakyt Sydykov, the special representative of the President of the Kyrgyz Republic on sanctions policy and sanctions risk mitigation, held a meeting in Bishkek with heads of diplomatic missions of foreign states.

Kabar reports that state banks of the republic have made decisions to cease servicing more than 240 accounts. In parallel, 52 legal entities have terminated operations, forced liquidation procedures have been initiated against 57 legal entities, and 25 more are undergoing review.

Sydykov emphasized that preventing the use of national financial infrastructure to circumvent international sanctions restrictions remains under special control of the top leadership of the Kyrgyz Republic.

At the briefing, international partners were presented with information on systematic work to prevent sanctions risks, enhance financial transparency, improve state regulation, strengthen supervision in the banking sector and virtual assets sphere.

To provide an independent assessment of sanctions compliance systems, international consulting firm Kroll has been engaged. Measures to improve export controls and strengthen regulation of the virtual assets sphere were also presented separately.

During the meeting, further cooperation with international partners was discussed, including information exchange, expert consultations, and development of joint approaches to preventing sanctions risks.