Kyrgyzstan starts shutting down companies over risk of new sanctions
Photo: Kyrgyzstan (Getty Images)
Kyrgyzstan has shut down 50 locally registered companies due to the risk of further sanctions. This is the first such move in a country under EU attention for alleged assistance to Russia in bypassing restrictions, according to Reuters.
Kyrgyzstan’s Ministry of Justice said it had "issued an order to simultaneously suspend the activities of 50 legal entities involved in operations with high sanctions risk."
The statement did not specify which companies or industries were affected by the decision. Russia was also not mentioned.
The Kyrgyz authorities described the move as the first such measure taken under a new mechanism for identifying "high-risk, ill-intentioned operations."
What preceded this decision
On April 23, the EU approved its 20th package of anti-Russian sanctions, the most extensive in the past two years. The restrictions target the energy sector, military-industrial complex, and financial system.
In particular, the European Union expanded its sanctions lists by adding 58 companies involved in drone production and other weapons manufacturing.
The EU also applied its anti-circumvention tool for the first time, banning the export of computer-controlled machine tools and radio receivers to Kyrgyzstan due to the risk of re-export to Russia.
Sixteen organizations from China, the UAE, Uzbekistan, Kazakhstan, and Belarus were also sanctioned for helping Russia’s military-industrial complex obtain high-tech goods.
The European Union has also imposed new sanctions on Russian officials and organizations involved in the deportation of Ukrainian children and their ideological re-education.
In addition, Europe is preparing a new sanctions package against Russia. This time, the main focus will be on combating Russia’s so-called shadow fleet.
