President of Kyrgyzstan Sadyr Japarov insists that American and British sanctions against two Kyrgyz financial institutions, Keremet Bank and Kapital Bank, are groundless and politically motivated. He made this statement in an interview with the Kabar news agency.
As Japarov noted, neither the U.S. nor the U.K. has provided any evidence of Kyrgyz banks’ involvement in circumventing sanctions against Russia. He also emphasized that there are 21 banks operating in the country, and to minimize risks for the national banking system, all ruble transactions are concentrated in two state banks – Keremet and Kapital. These banks, the president stressed, handle transfers from migrant workers in Russia, which bring billions of rubles into the Kyrgyz economy.
Japarov also said that Kyrgyzstan had offered the U.S. an independent audit, but Washington refused, citing its own sources. The president now believes that the sanctions were prompted by denunciations from local NGOs and his political opponents.
«Our GDP has grown by 11.7%, and we are ahead of CIS member-states. Perhaps that is why they are trying to put pressure on us,» Japarov said.
He emphasized that he would like to appeal directly to the top leadership of the U.S. and the U.K. – President Donald Trump and Prime Minister Keir Starmer – as he doubts this information is reaching them.
«There is no need to politicize the economy. We are pursuing a multi-vector policy, and we cooperate with you in the economic sphere. For example, we sell gold worth a billion dollars annually to the U.K. alone. And in this case, such an attitude towards us cannot be called fair. If you don’t trust us, just show your proof. The bank is ready to open access to all its information,» Japarov noted.
On Aug. 20, the U.K. imposed sanctions on Kyrgyzstan’s Kapital Bank. These restrictions followed earlier measures against another state-owned bank Keremet Bank imposed by the U.S in January and the U.K. in February.
