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🇰🇬 Kyrgyzstan /Elections & Politics

EU sanctions: Kyrgyzstan's foreign minister discusses pressure on economy

From 24.kg · () Russian

Translated from Russian, summarized and contextualized by DistantNews.

At a glance

News Official statement Context piece
  • Kyrgyzstan's Foreign Minister discussed the EU's sanctions policy and its negative impact on the region's economy.
  • The minister expressed concern over unilateral restrictive measures affecting Kyrgyzstan's trade and financial development.
  • The EU and U.S. have imposed sanctions on several Kyrgyz companies and banks for alleged sanctions evasion related to Russia.

Kyrgyzstan's Foreign Minister, Jeenbek Kulubaev, held discussions in New York regarding the European Union's sanctions policy and its detrimental effects on the economic stability of the Central Asian region. During talks with Austrian Federal Minister for European and International Affairs Beate Meinl-Reisinger, Kulubaev voiced significant concerns about the potential repercussions of unilateral restrictive measures on Kyrgyzstan's trade, economic, and financial progress.

The Kyrgyz side consistently opposes the artificial politicization of international commercial relations.

— Jeenbek KulubaevStating Kyrgyzstan's position on international trade and sanctions during a meeting in New York.

Kulubaev emphasized Kyrgyzstan's consistent opposition to the "artificial politicization of international commercial relations." He affirmed the republic's stance, which favors open and constructive dialogue to achieve mutually beneficial solutions that shield the domestic market from external pressures. The meeting also addressed expanding political dialogue and promoting sustainable mountain development, including preparations for the Second Global Mountain Summit in Bishkek in October 2027.

The republic’s position is readiness for open and constructive dialogue to find compromise and mutually beneficial solutions that protect the domestic market from external pressure.

— Jeenbek KulubaevOutlining Kyrgyzstan's approach to resolving international economic disputes.

The discussion on sanctions comes amid actions taken by the EU and the United States against companies and banks in Kyrgyzstan. These measures are reportedly linked to suspicions of sanctions evasion concerning Russia. Notably, the EU's 20th sanctions package against Russia included Bishkek-registered TengriCoin, Keremet Bank, and Capital Bank. Restrictions were also placed on the export of specific machine tools and communication equipment to Kyrgyzstan. Several Kyrgyz banks and financial platforms have faced sanctions from Canada, the European Union, and the United Kingdom at various points, with Kyrgyzstan repeatedly asserting the unfounded nature of these measures.

The sanctions against its banks are unfounded.

— KyrgyzstanA repeated statement from Kyrgyzstan regarding international sanctions imposed on its financial institutions.
DistantNews Editorial

Originally published by 24.kg in Russian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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