Latest news with #Bishkek
Reuters
7 hours ago
- Business
- Reuters
Kyrgyzstan appeals to Trump, Starmer after UK imposes Russia-related sanctions
ALMATY, Aug 21 (Reuters) - Kyrgyzstan's President Sadyr Japarov appealed to the leaders of the United States and Britain on Thursday after London imposed sanctions on Kyrgyz crypto networks it said were being used by Russia to evade sanctions against Moscow. "I would appeal to the top leadership of these countries, to (U.S. President) Donald Trump and (British Prime Minister) Keir Starmer," Japarov told Kyrgyz state news agency Kabar. "There is no need to politicise the economy." London on Wednesday introduced sanctions targeting the infrastructure behind A7A5, a rouble-pegged stablecoin launched in Kyrgyzstan which Britain said had moved $9.3 billion in four months. A Luxembourg-based firm and four Kyrgyz entities including Grinex LLC and Old Vector LLC, linked to the infrastructure behind A7A5, were targeted. The U.S. sanctioned Grinex and Old Vector last week, saying they were involved in facilitating sanctions evasion and supporting illicit crypto activity. Japarov denied that any of Kyrgyzstan's 21 banks were involved in circumventing sanctions. "To prevent any of them from falling under sanctions, we have decided that only the state-owned Keremet Bank will work with the Russian rouble. All operations are controlled by the state, and the profits go to the state budget," Japarov said. Washington sanctioned Keremet Bank in January, saying the mid-sized lender was creating a hub for trade payments and helping Moscow to evade restrictions. Keremet has said it will challenge the decision. "We are ready to comply with international obligations," Japarov said on Thursday. "But I will not allow the interests of our citizens and the trade and economic development of the country to be reduced to nothing."
Al Arabiya
7 hours ago
- Business
- Al Arabiya
Kyrgyzstan appeals to Trump, Starmer after UK imposes Russia-related sanctions
Kyrgyzstan's President Sadyr Japarov appealed to the leaders of the United States and Britain on Thursday after London imposed sanctions on Kyrgyz crypto networks it said were being used by Russia to evade sanctions against Moscow. 'I would appeal to the top leadership of these countries, to (US President) Donald Trump and (British Prime Minister) Keir Starmer,' Japarov told Kyrgyz state news agency Kabar. 'There is no need to politicize the economy.' London on Wednesday introduced sanctions targeting the infrastructure behind A7A5, a rouble-pegged stablecoin launched in Kyrgyzstan which Britain said had moved $9.3 billion in four months. A Luxembourg-based firm and four Kyrgyz entities including Grinex LLC and Old Vector LLC, linked to the infrastructure behind A7A5, were targeted. The US sanctioned Grinex and Old Vector last week, saying they were involved in facilitating sanctions evasion and supporting illicit crypto activity. Japarov denied that any of Kyrgyzstan's 21 banks were involved in circumventing sanctions. 'To prevent any of them from falling under sanctions, we have decided that only the state-owned Keremet Bank will work with the Russian rouble. All operations are controlled by the state, and the profits go to the state budget,' Japarov said. Washington sanctioned Keremet Bank in January, saying the mid-sized lender was creating a hub for trade payments and helping Moscow to evade restrictions. Keremet has said it will challenge the decision. 'We are ready to comply with international obligations,' Japarov said on Thursday. 'But I will not allow the interests of our citizens and the trade and economic development of the country to be reduced to nothing.'
Zawya
2 days ago
- Business
- Zawya
Wildberries signs agreement to advance entrepreneurship in Kyrgyzstan
BISHKEK, KYRGYZSTAN - Media OutReach Newswire - 19 August 2025 - Wildberries, a leading digital platform in Eurasia, has signed an agreement with Kyrgyzstan's Bakai Bank and the Russia-Kyrgyzstan Development Fund to advance the development of small and medium-sized businesses in the country. The agreement is aimed at supporting domestic entrepreneurship in Kyrgyzstan, promoting women's entrepreneurship and unlocking Kyrgyzstan's export potential by engaging local entrepreneurs in cross-border e-commerce, including via the Wildberries platform. Under the agreement, Wildberries will offer free training and assistance for Kyrgyz entrepreneurs who are launching their sales with Wildberries, in addition to helping with product promotion on the marketplace. The Russia-Kyrgyzstan Development Fund will provide informational and organizational support for the project, while Bakai Bank will offer favorable lending terms to project participants. "We have been working in Kyrgyzstan since 2017—we see how fast e-commerce is growing in the country and are ready to invest our resources in innovation and infrastructure development," said Rafael Abramyan, Director of International Business Development at the united company Wildberries & Russ. "Currently, we are focused on actively involving Kyrgyz businesses in cross-border e-commerce and creating a modern, largest-ever logistics center in Kyrgyzstan, which together will become drivers of e-commerce growth in the country." Sales of Kyrgyzstan-based sellers increased by 53% year-on-year on the Wildberries marketplace in the first six months of 2025, with the number of local sellers on the platform growing by 37% during the same period. Kyrgyz sellers on the platform tend to be young and more often female. The agreement marks the first step toward the upcoming launch of the Growth Platform project in Kyrgyzstan—an international initiative co-organized by Wildberries that trains and assists sellers who are entering its marketplace. In June 2025, Wildberries announced the launch of the Growth Platform in Uzbekistan and is expanding the initiative to further markets. Hashtag: #Wildberries The issuer is solely responsible for the content of this announcement. About Wildberries Established in 2004 in Russia, Wildberries is a leading digital platform operating in Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan, while also partnering with sellers in China and the UAE. Wildberries provides a state-of-the-art IT infrastructure to support customers and sellers, along with a developed logistics network spanning more than 135 facilities and 87,000 pick-up points across its markets. As of 2025, Wildberries serves over 79 million customers and processes more than 20 million orders per day. Wildberries
Malay Mail
2 days ago
- Business
- Malay Mail
Wildberries signs agreement to advance entrepreneurship in Kyrgyzstan
BISHKEK, KYRGYZSTAN - Media OutReach Newswire - 19 August 2025 - Wildberries, a leading digital platform in Eurasia, has signed an agreement with Kyrgyzstan's Bakai Bank and the Russia-Kyrgyzstan Development Fund to advance the development of small and medium-sized businesses in the agreement is aimed at supporting domestic entrepreneurship in Kyrgyzstan, promoting women's entrepreneurship and unlocking Kyrgyzstan's export potential by engaging local entrepreneurs in cross-border e-commerce, including via the Wildberries the agreement, Wildberries will offer free training and assistance for Kyrgyz entrepreneurs who are launching their sales with Wildberries, in addition to helping with product promotion on the marketplace. The Russia-Kyrgyzstan Development Fund will provide informational and organizational support for the project, while Bakai Bank will offer favorable lending terms to project participants."We have been working in Kyrgyzstan since 2017—we see how fast e-commerce is growing in the country and are ready to invest our resources in innovation and infrastructure development," said Rafael Abramyan, Director of International Business Development at the united company Wildberries & Russ. "Currently, we are focused on actively involving Kyrgyz businesses in cross-border e-commerce and creating a modern, largest-ever logistics center in Kyrgyzstan, which together will become drivers of e-commerce growth in the country."Sales of Kyrgyzstan-based sellers increased by 53% year-on-year on the Wildberries marketplace in the first six months of 2025, with the number of local sellers on the platform growing by 37% during the same period. Kyrgyz sellers on the platform tend to be young and more often agreement marks the first step toward the upcoming launch of the Growth Platform project in Kyrgyzstan—an international initiative co-organized by Wildberries that trains and assists sellers who are entering its marketplace. In June 2025, Wildberries announced the launch of the Growth Platform in Uzbekistan and is expanding the initiative to further #Wildberries The issuer is solely responsible for the content of this announcement. About Wildberries Established in 2004 in Russia, Wildberries is a leading digital platform operating in Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan, while also partnering with sellers in China and the UAE. Wildberries provides a state-of-the-art IT infrastructure to support customers and sellers, along with a developed logistics network spanning more than 135 facilities and 87,000 pick-up points across its markets. As of 2025, Wildberries serves over 79 million customers and processes more than 20 million orders per day.
CNA
2 days ago
- Business
- CNA
Wildberries signs agreement to advance entrepreneurship in Kyrgyzstan
BISHKEK, KYRGYZSTAN - Media OutReach Newswire - 19 August 2025 - Wildberries, a leading digital platform in Eurasia, has signed an agreement with Kyrgyzstan's Bakai Bank and the Russia-Kyrgyzstan Development Fund to advance the development of small and medium-sized businesses in the country. The agreement is aimed at supporting domestic entrepreneurship in Kyrgyzstan, promoting women's entrepreneurship and unlocking Kyrgyzstan's export potential by engaging local entrepreneurs in cross-border e-commerce, including via the Wildberries platform. Under the agreement, Wildberries will offer free training and assistance for Kyrgyz entrepreneurs who are launching their sales with Wildberries, in addition to helping with product promotion on the marketplace. The Russia-Kyrgyzstan Development Fund will provide informational and organizational support for the project, while Bakai Bank will offer favorable lending terms to project participants. "We have been working in Kyrgyzstan since 2017—we see how fast e-commerce is growing in the country and are ready to invest our resources in innovation and infrastructure development," said Rafael Abramyan, Director of International Business Development at the united company Wildberries & Russ. "Currently, we are focused on actively involving Kyrgyz businesses in cross-border e-commerce and creating a modern, largest-ever logistics center in Kyrgyzstan, which together will become drivers of e-commerce growth in the country." Sales of Kyrgyzstan-based sellers increased by 53% year-on-year on the Wildberries marketplace in the first six months of 2025, with the number of local sellers on the platform growing by 37% during the same period. Kyrgyz sellers on the platform tend to be young and more often female. The agreement marks the first step toward the upcoming launch of the Growth Platform project in Kyrgyzstan—an international initiative co-organized by Wildberries that trains and assists sellers who are entering its marketplace. In June 2025, Wildberries announced the launch of the Growth Platform in Uzbekistan and is expanding the initiative to further markets. Hashtag: #Wildberries The issuer is solely responsible for the content of this announcement. About Wildberries Established in 2004 in Russia, Wildberries is a leading digital platform operating in Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan, while also partnering with sellers in China and the UAE. Wildberries provides a state-of-the-art IT infrastructure to support customers and sellers, along with a developed logistics network spanning more than 135 facilities and 87,000 pick-up points across its markets. As of 2025, Wildberries serves over 79 million customers and processes more than 20 million orders per day.
