Kyrgyzstan Closes Over 100 Companies to Reduce Sanctions Risk

Bakhyt Sydykov, special representative of the Kyrgyz president on sanctions policy, held a briefing for heads of foreign diplomatic missions in Bishkek. The Ministry of Economy and Commerce reported specific results of work to minimize sanctions risks.

According to Sydykov, operations have been terminated for 52 legal entities. Forced liquidation procedures have been initiated against another 57 companies, and checks are underway against 25. State banks made decisions to cease servicing more than 240 accounts.

International consulting firm Kroll has been engaged to provide independent assessment of sanctions compliance systems. The briefing also presented measures to improve export controls, strengthen regulation of the virtual assets sector, and prevent potential sanctions risks.

Between 2024 and 2025, several commercial structures from Kyrgyzstan fell under various restrictive measures imposed by the United States, United Kingdom, EU, and Canada, including Capital Bank of Central Asia, Tolubay and Eurasian Savings Bank, payment platform A7, and cryptocurrency exchanges Grinex and Meer. The EU's 21st package of anti-Russian sanctions included three firms from the republic and EcoIslamicBank. The European Union also introduced restrictions against the Bishkek-registered cryptocurrency platform TengriCoin, Keremet Bank, and Capital Bank.