Kyrgyzstan Conducts Second Round of Crackdown on Companies Exposed to Russia-related Sanctions Risks
To avoid secondary sanctions from the European Union, Kyrgyzstan has launched a second round of inspections. According to Bakyt Sadykov, Special Representative of the President on Sanctions Policy, 19 out of 40 inspected companies are slated for forced deregistration; in the first round in June, 50 high-risk legal entities were shut down. Two state-owned banks have severed cooperation with over 130 institutions.
It's understandable that Kyrgyzstan is feeling tense: it is the first post-Soviet country to have domestic enterprises and banks listed in the EU sanctions list. The 21st round of EU sanctions, effective August 13, added "Eco Islamic Bank" and three other Kyrgyz companies to the sanctions list.
Despite Russia viewing Kyrgyzstan as an ally and providing reconstruction support, Kyrgyzstan continues aggressively clearing high-risk business dealings with Russia. In July, it also requested Russia ensure stable fuel supply.
Original source: toutiao.com/article/1874538325305354/
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