The Ministry of Economy is assessing the impact of British sanctions against Kyrgyz state-owned companies

The Ministry of Economy and Commerce of Kyrgyzstan is holding consultations and analyzing the potential impact of sanctions imposed by the United Kingdom on a number of companies in the country. This was reported by Minister of Economy and Commerce Bakyt Sydykov to a journalist from Akchabar.

According to him, the authorities are not yet ready to provide a final assessment of the impact of the restrictive measures on the country’s economy and business.

“Internal consultations are currently underway to identify the potential consequences of these sanctions. Undoubtedly, certain restrictions may arise for companies working with Western partners. However, if a company had no prior contacts with European partners, then what consequences are there to speak of?” the minister said.

Sydykov noted that active work is currently underway to assess the risks and potential economic impact of the sanctions.

“In the near future, we will be able to understand the consequences in greater detail. The assessment will be backed by concrete data, figures, and well-reasoned conclusions. Consultations are currently ongoing,” emphasized the head of the Ministry of Economy.

As a reminder, on May 26, the UK expanded its sanctions list to include entities that, according to London, are linked to supporting the Russian economy and facilitating the circumvention of international restrictions. The new sanctions package includes three organizations from Kyrgyzstan: Eurasian Savings Bank OJSC, State Brokerage Company OJSC, and Virtual Asset Issuer OJSC.