BISHKEK, Kyrgyzstan, February 27. The European
Union has presented Kyrgyzstan with specific proposals for further
technical cooperation aimed at removing Kyrgyz banks from the
sanctions list and preventing future financial risks, Trend reports, citing the
press service of the Cabinet of Ministers of Kyrgyzstan.
This was stated by the EU Sanctions Envoy, David O’Sullivan, who
visited Kyrgyzstan on a working trip during an expanded meeting
with First Deputy Chairman of the Cabinet of Ministers of the
Kyrgyzstan Daniyar Amangeldiev.
During the meeting, the parties continued exchanging views on
sanctions-related issues. In this context, Daniyar Amangeldiev
emphasized that Kyrgyzstan follows a pragmatic and professional
approach to risk management and is consistently strengthening
compliance measures, financial monitoring, and transparency of
foreign economic operations.
The Kyrgyz side also noted that the effectiveness of export and
financial controls requires shared responsibility among all
participants in the foreign economic chain, including European
exporters.
At the same time, the meeting emphasized the importance of
European suppliers’ diligent compliance with their own export
control requirements, conducting proper due diligence on
counterparties, accurately documenting transactions, and providing
a complete set of supporting materials necessary to verify the end
user and the intended use of goods.
Special attention was paid to the work of the financial sector.
The Kyrgyz side informed about practical steps to strengthen
control mechanisms in commercial banks, including comprehensive
transaction checks and the blocking of operations that pose
compliance risks.
Additionally, the Kyrgyz side stressed the need to establish
clear and transparent mechanisms, including unified risk assessment
criteria, agreed procedures, and timely feedback, as well as the
importance of using reliable, verified, and up-to-date information
as the basis for decision-making and coordinated actions.
The meeting also noted the necessity of preparing a joint action
plan and defining the further format of technical cooperation aimed
at the phased resolution of issues related to restrictive measures
concerning certain commercial banks.
In turn, David O’Sullivan, noting the high level of openness of
the Kyrgyz authorities and their willingness to engage in direct
dialogue on the most sensitive issues, emphasized that the
transparency demonstrated is a key factor in building trust with
European institutions and the international community.
The Special Representative stressed that the European Union
expects further progress in strengthening export and financial
control mechanisms.
At the conclusion of the meeting, the parties confirmed their
readiness to continue practical dialogue and maintain ongoing
working-level contacts.
