The UK has imposed sanctions on another Kyrgyz company

The United Kingdom has added the Kyrgyz company KIFIKO LLC (KIFIKO LLC) to its updated sanctions list targeting Russia. The decision was published on December 18 as part of an update to the sanctions list.

According to the British Foreign Office, financial restrictions have been imposed on KIFIKO LLC, including a ban on the provision of trust services, which came into force on December 18.

The company is also subject to standard financial sanctions under legislation on measures against Russia.

The UK authorities say they have “reasons to suspect” that KIFIKO LLC “is involved” in circumventing sanctions imposed on Russia.

As stated in the document, the company:

• operates in a sector of strategic importance to the Russian government, namely the Russian financial services sector;
• provided financial services, resources, or technology to the A7 organization, which, according to London, benefits from the support of the Russian government.

We would like to add that since April last year, KIFICO has held a virtual asset exchange operator license from the Financial Market Regulation and Supervision Service.