«We’re caught in the crossfire because we have strong ties with both Russia and Ukraine, with sizable communities from both nations living here. But our priority is domestic progress,» Turkish media outlet TRT World cited the Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan Edil Baisalov as saying.
«But we will not choose any side. We will not put anything over our own national development,» Edil Baisalov said.
At the same time, Edil Baisalov assured that Bishkek is not going to suddenly abandon Russia just because the cancel culture is popular. According to him, it’s neither possible nor in national interest of Kyrgyzstan, especially since Russia is undeniably one of its major trade partners.
«I must point out that we are already living under de facto sanctions, particularly in our banking sector. But we will persevere. Kyrgyzstan is not going to be drawn into geopolitical games, and we will not allow these challenges to distract us or derail our national development,» the Deputy Chairman of the Cabinet of Ministers said.
Earlier, the U.S. sanctions regulator issued a warning to foreign financial institutions about the risks of cooperation with Russian banks abroad. The press release of the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury states that the Russian Federation is trying to circumvent sanctions «by opening new foreign branches and subsidiaries of Russian financial institutions.»
Almost all commercial banks of the Kyrgyz Republic were forced to stop working with Russian banks due to the threat of sanctions from the European Union and the United States.
Kyrgyzstan was warned about the ban on violating sanctions against the Russian Federation, the Foreign Minister Jeenbek Kulubaev said.
Last week, the National Bank of the Kyrgyz Republic banned banks from making payments without real deliveries.
