BAKU, Azerbaijan, August 18. Kyrgyzstan will
initiate compulsory liquidation proceedings against 19 legal
entities as part of measures aimed at reducing risks related to
violations of international sanctions regimes.
According to the country's Ministry of Economy and Commerce, the
decision was discussed at a regular meeting on sanctions compliance
policy chaired by Special Representative of the President of the
Kyrgyz Republic for Special Assignments Bakyt Sydykov. The meeting
was attended by representatives of government agencies, the
National Bank of the Kyrgyz Republic and commercial banks.
Participants reviewed the results of an analysis of companies
potentially exposed to sanctions risks. Following an interagency
meeting held in late June 2026, authorities compiled a list of
around 40 companies whose activities could involve increased
sanctions-related risks.
Relevant inspections were carried out, and based on the findings
and a comprehensive review, the interagency group concluded that
the activities of an additional 19 companies should be terminated
to prevent potential consequences for Kyrgyzstan related to
possible circumvention of sanctions regimes.
A request will be submitted to judicial authorities to launch
compulsory liquidation procedures against these legal entities in
accordance with Kyrgyz legislation.
The review of the remaining companies on the list is ongoing.
Further measures will be determined based on the results of the
assessment.
"In addition, a briefing was held by the National Bank of the
Kyrgyz Republic on measures to improve supervision and regulation
in the field of payment services. It was noted that the measures
being implemented are aimed at reducing sanctions risks, increasing
the transparency of financial transactions, and ensuring compliance
with national legislation and the Kyrgyz Republic’s international
obligations," the statement of the ministry says.
From July through August 14, 2026, state-owned banks implemented
additional compliance measures. Eldik Bank OJSC terminated business
relations with around 109 companies, while the closure of accounts
for approximately 20 more companies is underway. The bank continues
real-time monitoring of customer transactions to identify and block
operations that may be linked to sanctions circumvention.
ABANK OJSC terminated relations with around 35 companies, while
approximately 40 companies are undergoing additional due diligence
procedures. The bank is also implementing measures to identify
suspicious transactions and reduce sanctions-related risks.
State-owned banks will continue strengthening compliance
controls across all stages of financial operations, according to
the statement.
