Kyrgyz president criticizes US and UK sanctions on local banks

Kyrgyzstan views the US and UK sanctions against Keremet Bank and Capital Bank of Central Asia as undue pressure and calls for economic matters to remain free from political influence.

President Sadyr Zhaparov made these remarks in a statement addressed to US President Donald Trump and UK Prime Minister Keir Starmer, as reported by Kyrgyz media.

“It appears that while the United States imposed sanctions on Keremet Bank, the United Kingdom has targeted Capital Bank. Yet, in both cases, there are no concrete facts—only suspicions. This raises doubts. Our economy is growing rapidly; our GDP increased by 11.7%, placing Kyrgyzstan among the leaders in the CIS. I believe this progress is precisely why pressure is being applied. Great powers prefer other nations to remain dependent on them rather than develop independently,” Zhaparov said.

He appealed directly to Trump and Starmer, suggesting that they may not have received accurate information. “There is no need to politicise the economy,” he emphasised.

Zhaparov also stressed that Western countries cannot provide evidence that Bishkek has violated sanctions against Russia. He noted that all ruble operations conducted by Keremet Bank are strictly monitored by the state.

He added that Kyrgyzstan has roughly one million migrant workers in Russia, who transfer billions of rubles daily back home. “These funds must be converted and made accessible to the people,” the president stated.

By Tamilla Hasanova