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🇰🇬 Kyrgyzstan /Economy & Trade

Finance Ministry: Sanctions Do Not Affect Budget Replenishment or Execution

From 24.kg · () Russian

Translated from Russian, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • Kyrgyzstan's Finance Minister Ruslan Suinaliev stated that Western sanctions on some domestic companies do not significantly impact the national budget.
  • He acknowledged that certain companies are under sanctions but assured that the Ministry of Finance is monitoring the situation.
  • The government is taking measures, including dissolving 50 legal entities with high sanction risks, to prevent circumvention of restrictions.

Western sanctions imposed on several Kyrgyz companies are not significantly affecting the country's budget, according to Finance Minister Ruslan Suinaliev. Speaking as part of the media project "Open Cabinet: Territory of Responsibility," Suinaliev addressed journalists' concerns about the impact of international restrictions.

"We have companies that are currently under sanctions. As for the Ministry of Finance, we are carrying out certain work, and today they do not particularly affect the republican budget, its replenishment, and execution," Suinaliev stated. He added that the ministry remains cautious and is actively working on the issue, with each ministry handling it within its own domain.

These sanctions have targeted companies, including several banks in Kyrgyzstan, due to suspicions of circumventing restrictions imposed on Russia following its invasion of Ukraine. Kyrgyz authorities maintain they are not assisting Russia in bypassing these limitations and are actively combating businesses that violate the rules. Previously, the Ministry of Justice ordered the immediate termination of operations for 50 legal entities identified as having high sanction-related risks.

We have companies that are currently under sanctions. As for the Ministry of Finance, we are carrying out certain work, and today they do not particularly affect the republican budget, its replenishment, and execution.

— Ruslan SuinalievKyrgyzstan's Finance Minister Ruslan Suinaliev commented on the impact of Western sanctions on the national budget.
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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