Kyrgyz President Sadyr Zhaparov has criticized the sanctions imposed by the UK and US on certain financial institutions in the country, which are allegedly linked to Russia.
President's Criticism of Sanctions
In an interview published on Thursday, Zhaparov condemned the actions of the US and UK governments for sanctioning Kyrgyz financial institutions without providing evidence of their involvement in circumventing western restrictions. He noted that the sanctions also target Capital Bank, which is suspected of purchasing military supplies for Moscow.
Economic Situation and Appeals to the West
The Kyrgyz President stated that his administration was not shown evidence to support the allegations. He cited that there are 21 banks operating in Kyrgyzstan and that only the state-owned Keremet Bank would work with the Russian ruble to avoid potential sanctions. Zhaparov also mentioned meetings with American officials and the proposal for an independent audit of bank activities, which was rejected.
Could Kyrgyzstan Suffer from Sanctions?
Zhaparov expressed doubts that Russia would be harmed by the sanctions imposed against Kyrgyzstan. He emphasized that Capital Bank will continue its operations and generate profits for the state. However, he acknowledged that sanctions do have consequences for the economy, pointing out that the countries imposing the sanctions still engage in trade with Russia.
Kyrgyz President Sadyr Zhaparov continues to call for the need for clear evidence of sanctions while emphasizing the importance of avoiding the politicization of the economy, as well as pointing out the significant economic ties that exist between Kyrgyzstan and other countries.
