United Kingdom imposes economic restrictions on Kyrgyz businesses due to connections with Russia

In a significant move, the UK has announced new sanctions against several entities and individuals over actions that allegedly undermine or threaten the territorial integrity, sovereignty, and independence of Ukraine.

Among the five entities targeted are Grinex, Tengricoin, Old Vector, Altair Holding, and LLC 'Capital Bank of Central Asia'. Additionally, the UK has imposed sanctions on three individuals: Kyrgyz citizen Kanatbek Chalkabayev, director of Altair Holding and Capital Bank of Central Asia, and Leonid Shumakov, head of the ruble-pegged stablecoin project "A7A5".

Shakirov Nurlan Bekovich is listed as the director of LLC "Inter Style Plus", another entity affected by the sanctions. According to the UK Foreign Office, this Kyrgyz company is linked to actions aimed at undermining or threatening Ukraine's territorial integrity, sovereignty, and independence by providing financial, economic resources, goods, or technologies to Russia.

The sanctions involve the freezing of assets and a ban on trust services. The UK's decision is part of its response to actions that threaten Ukraine's sovereignty and follows a similar move by other Western countries.

According to a June Financial Times report, approximately $9.3 billion allegedly passed through the ruble-pegged stablecoin A7A5 over several months. Leonid Shumakov is included in the sanctions list due to his involvement with this project.

The company LLC "Inter Style Plus" was first registered on November 30, 2017, according to the Ministry of Justice of the Kyrgyz Republic. However, there is no relevant information available about its current registration status in the provided search results. The re-registration of LLC "Inter Style Plus" took place on December 5, 2023.

This is not the first time the UK has imposed sanctions in response to actions that threaten Ukraine's territorial integrity, sovereignty, and independence. The UK remains committed to upholding international law and supporting Ukraine's sovereignty and territorial integrity.