 (1).png){kind=spacer}
6 months ago
14
Major banks in the Central Asia republic of Kyrgyzstan have suspended money transfers to and from Russia amid exchange rate volatility and issues with payment systems, state-run media reported on Thursday.
RSK Bank, Kyrgyzstan’s second-largest lender, said the Astrasend, Contact, Zolotaya Korona and Sberbank Online money transfer systems were temporarily down due to technical problems. Kyrgyzkommertsbank and Kompanion Bank said the Unistream transfer system was also down.
Kyrgyzstan’s Mbank, meanwhile, announced restrictions on ruble conversions “[d]ue to the volatility of the exchange rate and possible sharp fluctuations in the foreign exchange market.” However, the bank added that clients’ ruble-denominated accounts were safe.
Bai-Tushum and DemirBank also suspended their ruble-dollar conversion services, owing to exchange rate volatility.
The money transfer suspensions in Kyrgyzstan come a day after Washington revealed a new raft of sanctions to hinder Russia’s war efforts in Ukraine, including restrictions against the Moscow Exchange, which on Thursday halted dollar and euro trade.
The U.S. sanctioned the Unistream transfer system in July 2023, which prompted a number of Kyrgyz banks to temporarily stop using the system.
… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.
We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.
Continue
Not ready to support today?
Remind me later.
