Kyrgyzstan and the EU discussed removing local banks from the sanctions list

First Deputy Prime Minister Daniyar Amangeldiev held an extended meeting with European Union Special Envoy for Sanctions David O'Sullivan, who arrived in Kyrgyzstan on a working visit.

During the talks, the parties exchanged views on sanctions policy and control measures. Amangeldiev stressed that Kyrgyzstan adheres to a pragmatic approach to risk management, strengthening compliance, financial monitoring and transparency of foreign economic operations.

Particular attention was paid to:

• the conscientious fulfilment of export control requirements by European suppliers;
• the verification of counterparties and the formalisation of transactions;
• the provision of a complete set of supporting documents for the verification of the end user;
• the strengthening of control mechanisms in commercial banks, including the blocking of risky transactions.
• The parties discussed the development of transparent risk assessment mechanisms and agreed procedures for coordinating efforts in the banking sector, as well as formats for technical cooperation to resolve issues related to restrictive measures.

David O'Sullivan noted the Kyrgyz authorities' readiness for open dialogue and stressed that transparency helps to strengthen trust on the part of the EU and the international community. He said that Brussels had sent specific proposals for further technical cooperation to remove Kyrgyz banks from sanctions lists and reduce financial risks.

The parties confirmed their intention to continue practical dialogue and maintain contact through working channels.