The European Union has sent concrete proposals to Kyrgyzstan aimed at removing several Kyrgyz banks from the EU sanctions list.

The announcement was made by EU Sanctions Envoy David O’Sullivan during his visit to Bishkek, The Caspian Post reports via Kyrgyz media.

High-Level Talks on Financial Compliance

During a meeting with First Deputy Chairman of the Kyrgyz Cabinet of Ministers Daniyar Amangeldiev, both sides discussed ways to strengthen financial oversight and align procedures with European requirements.

Amangeldiev stressed that Kyrgyzstan is pursuing a pragmatic risk-management approach, enhancing financial monitoring and increasing transparency in foreign economic operations. He underlined that effective export and financial control requires responsibility from all participants in the supply chain - including European exporters - as well as proper due diligence, accurate documentation, and full verification of end users.

Focus on the Banking Sector

Particular attention was given to the banking system. Kyrgyz officials outlined measures to tighten transaction monitoring in commercial banks, including blocking operations that carry potential sanctions risks. They also emphasized the need for transparent risk assessment mechanisms, coordinated procedures, and timely feedback between partners.

The parties discussed drafting a joint action plan and technical cooperation formats to gradually resolve issues related to restrictive measures against specific banks.

O’Sullivan praised Kyrgyz authorities for their openness and willingness to engage in dialogue, confirming that specific proposals have been sent to Bishkek to facilitate the removal of banks from the sanctions list and reduce financial risks going forward.