BISHKEK, Kyrgyzstan, February 25. The UK has thrown a wrench in the works for Kyrgyzstan-based OJSC Keremet Bank by imposing sanctions, Trend reports.
As reported by the UK government, the initiative constitutes a strategic maneuver aimed at undermining Russia's exploitation of the global financial architecture to bolster its military operations.
The sanctions are just the tip of the iceberg, as they come bundled with 107 new measures, marking this as the UK's most significant sanctions announcement since 2022.
Alongside Keremet Bank, the spotlight also shines on the Kyrgyz company Rama Group, which is said to be in charge of exporting microelectronics to Russia.
The package also targets producers and suppliers of machine tools, electronics, and dual-use goods, such as microprocessors used in weapons systems. These suppliers are located in various countries, including Central Asia, Türkiye, Thailand, India, and China—one of the largest sources of critical goods for Russia’s military. Further sanctions extend to North Korean officials, including North Korean Defense Minister No Kwang Chol and other North Korean generals and senior officials.
Additionally, 13 Russian targets have been sanctioned, including LLC Grant-Trade, its owner Marat Mustafaev, and his sister Dinara Mustafaeva, who have been implicated in funneling advanced European technology into Russia.
On January 15, the US Department of the Treasury, through the Office of Foreign Assets Control, imposed sanctions on Keremet Bank. The sanctions came about because the bank was caught red-handed in helping with cross-border transfers for Promsvyazbank, a Russian bank that has been in hot water with the US since 2022.
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