Uzbek banks are working with the international money transfer service Zolotaya Korona to transition to a new technical operator after the European Union imposed sanctions on the service’s correspondent bank, a senior official at the Central Bank of Uzbekistan said.

Otabek Tozhidinov, head of the Central Bank’s Department of Foreign Exchange Regulation and Supervision, explained that the sanctions do not target Zolotaya Korona itself but rather the correspondent bank responsible for processing some of its transactions, The Caspian Post reports, citing Uzbek media.

“Uzbekistan does not intend to be affected by the secondary impact of these sanctions,” Tozhidinov said. “In consultation with the management of Zolotaya Korona, our banks are negotiating a transition to another operator that is not subject to sanctions.”

According to Tozhidinov, representatives of Zolotaya Korona are currently in Tashkent to finalize the necessary arrangements. He said the transition to the new operator is expected to be completed as early as next week, allowing the money transfer service to continue operating without interruption.

The Central Bank said it is closely monitoring the situation and reassured customers that money transfers remain unaffected. Tozhidinov noted that Zolotaya Korona maintains a security deposit with local banks, enabling transfers to be processed as usual and ensuring recipients can receive funds in any currency.