The National Bank of the Kyrgyz Republic issued a statement in response to information about the introduction of sanctions against one of the country’s commercial banks. The bank posted the information on its website.

According to representatives of the National Bank, the banking sector of Kyrgyzstan remains stable and has sufficient capitalization, liquidity and resistance to external risks. Commercial banks continue to operate as usual, providing services to clients without interruption. It is also noted that the situation on the foreign exchange market remains stable.

The National Bank reported on measures to minimize the negative impact of sanctions on the country’s financial system. If necessary, the bank is ready to use additional tools to maintain the stability of the banking system and protect the interests of depositors and creditors.

Earlier, the United States expanded sanctions against the Russian financial sector. The restrictions affected 15 organizations and one individual, which, as stated, support the Russian defense industry. Among them are the companies «Transactions and Settlements», FC «Liniya Investitsiy», «Central Depository of Funds» and MC «Evocorp».

The U.S. Department of the Treasury also included the Kyrgyz Keremet Bank in the sanctions list for participating in the circumvention of restrictions imposed on Russia. According to the department, the bank worked in conjunction with the Russian Promsvyazbank, which finances the Russian defense industry and has been under sanctions since 2022.

Since the summer of 2024, Keremet Bank has been helping to conduct international transfers for Promsvyazbank. In addition, according to the U.S., the scheme involved Russian-Moldovan businessman Ilan Shor, who discussed the role of Keremet Bank in circumventing sanctions.

In 2024, a controlling stake in the bank was sold to a company associated with the Russian oligarch. This, according to the U.S. authorities, made Keremet Bank an important link in the scheme to circumvent sanctions.