Japarov's UN sanctions plea never mentioned the banks he was lobbying for in private

President Sadyr Japarov told the 81st UN General Assembly on 22 September that "the mandate to impose sanctions against a state should belong exclusively to the United Nations." The text published by his own office never mentions Kyrgyz banks, Keremet Bank, or any of the US, UK and EU measures that actually constrain them. That omission is the most informative thing about the speech: the sanctions Bishkek cares about were handled in the meetings around the General Assembly, not from the podium.

What Japarov actually said

The presidency's text, which matches the UN's own transcript, is pitched at the sanctions system rather than any listing. Japarov said sanctions are "in some cases, used by individual countries as an instrument of interference in the internal affairs of sovereign states," and that major states "put pressure on smaller countries such as Kyrgyzstan... issuing ultimatums." His proposals were procedural: advance review by the Organization of all sanctions measures, so that "their potential humanitarian, economic and social consequences are taken into account"; a requirement that initiating states "clearly indicate the legal basis"; and a unified monitoring mechanism under UN auspices. "Every country should tremble when the United Nations intends to impose sanctions," he said. "Otherwise, existing sanctions will become a sort of children's toy."

The one passage touching the machinery Bishkek privately blames pointed elsewhere: Japarov thanked President Trump for halting US funding of non-governmental organisations, saying "interference by NGOs in the internal affairs and policies of developing States has practically ceased." He also noted Kyrgyzstan's first election to the Security Council, for 2027-2028, with 142 votes.

The track that ran in parallel

The day before the speech, Japarov met Citibank managing director Stephanie von Friedburg in New York. The presidency's account is specific where the UN address was general: the two sides discussed international settlements, expanding Kyrgyz banks' access to international financial infrastructure, new correspondent relationships between the state banks and Citibank, and a possible Citibank branch in the country. It also records that in April the state-owned Eldik Bank placed a debut 500 million dollar eurobond with Citigroup as one of the lead arrangers and bookrunners.

The next day Japarov met European Council President António Costa. Per the presidency, he raised his concern at the sanctions policy of Western and European partners despite Kyrgyzstan's regular exchange of information with EU officials — and offered as evidence the closure this year of 50 companies conducting operations with heightened sanctions risk. The domestic clean-up is not a quiet counterpoint to the public position; Bishkek presents it as the proof.

What the clean-up consists of

The 50 companies are documented. RFE/RL reported in May that the justice ministry suspended their registration after Washington and London flagged them. First Deputy Prime Minister Daniyar Amangeldiev described the mechanism plainly: "After they report risks, we study them and respond. For example, the United States and the United Kingdom have made allegations regarding 51 companies. We conducted an investigation and suspended the registration of 50 companies."

The banks have moved faster than the ministries. Times of Central Asia reports that between July and 14 August Eldik Bank ended relationships with about 109 companies and was closing around 20 more accounts, while ABank dropped around 35 clients and was reviewing another 40. On 18 August, 24.kg reported that a meeting chaired by Bakyt Sydykov, the president's special representative for special assignments, sent a further 19 companies into compulsory liquidation out of roughly 40 identified in late June. No company has been named and no allegation set out publicly, leaving outsiders unable to tell enforcement from signalling.

Japarov's account of why the listings happened is harder to source than the actions. In an interview with the state agency Kabar, reported by Times of Central Asia, he said neither the UK nor the US "has provided a single fact of violation," attributed the underlying material to "local NGOs and our internal opponents in the form of anonymous denunciations," and added: "We proposed to involve independent audit companies to check... and then make a decision. But they refused." That audit offer remains the most concrete element of the Kyrgyz position, and no Western authority has publicly taken it up. One ruling has gone Bishkek's way, though not against a regulator: in April a Brussels court found the Open Dialogue Foundation had alleged Bakai Bank's involvement in sanctions-circumvention schemes without sufficient evidence, and ordered the publications removed.

Where the measures actually bind

A UN-only regime would reach none of the instruments in force. The US Treasury designated OJSC Keremet Bank on 15 January 2025, saying its officials had coordinated with Russian officials and designated Promsvyazbank to run cross-border transfers on the Russian bank's behalf, and that a controlling stake was sold in 2024 to interests linked to a Russian oligarch to create "a sanctions evasion hub." The National Bank petitioned for delisting almost at once — chairman Melis Turgunbaev said in February 2025 that a formal request had been filed and such cases are "reviewed within 30 to 45 days" — yet Keremet was still listed in accountings published eighteen months later. The UK, Interfax notes, added Capital Bank in August 2025 and Keremet in February 2026; the EU added Tolubay Bank and Eurasian Savings Bank in October 2025, which Times of Central Asia notes costs correspondent relationships and limits SWIFT access.

Then the country itself became the target. On 23 April 2026 the EU activated its anti-circumvention tool for the first time, banning EU operators from exporting CNC machine tools and certain radio equipment to Kyrgyzstan on grounds of high re-export risk to Russia, and designating a Kyrgyz crypto exchange trading Russia's A7A5 stablecoin. The 21st package, adopted on 23 July, imposed a transaction ban on EcoIslamicBank over its connection to Russia's SPFS messaging system, in force from 13 August.

What to watch

• Whether a new correspondent relationship with Citibank or another Western bank is actually established — the first hard evidence the clean-up is being credited.
• Whether any Western regulator takes up the independent-audit offer, or Kyrgyzstan names the liquidated companies and publishes its criteria.
• Whether Keremet Bank secures any relief, and whether the EU lists Kyrgyz banks beyond EcoIslamicBank.
• Whether the EU widens the anti-circumvention goods list beyond machine tools and radio equipment.

The UN proposal is addressed to a body that cannot deliver it, and Japarov's own schedule showed where he expected results. The test is the ledger, not the speech: how many accounts close, which firms are named, and whether a bank in New York opens a line.

Sources

• president.kg — Speech by President Sadyr Zhaparov at the General Debate of the 81st session of the UN General Assembly
• UN Transcripts — (Day 1) General Debate, General Assembly: Plenary meeting, 81st session
• president.kg — President Sadyr Japarov met with Citibank managing director Stephanie von Friedburg
• president.kg — President Sadyr Japarov met with European Council President António Costa
• US Treasury — Treasury Disrupts Russia's Sanctions Evasion Schemes
• EEAS — Russian energy revenues, trade, crypto and military industries targeted in 20th round of EU sanctions
• EEAS — 21st package of sanctions: EU hits Russian energy, financial services and crypto hard
• Interfax — EU activates anti-circumvention tool for first time, bans exports of some machines, comms equipment to Kyrgyzstan
• RFE/RL — Kyrgyzstan Shuts 50 Companies In New Crackdown On Russia-Related Sanctions Evasion
• The Times of Central Asia — Kyrgyzstan Sanctions Risks Reshape Business
• 24.kg — 19 more Kyrgyzstan's companies face forced liquidation over sanctions risks
• 24.kg — EU anti-Russian sanctions: Operations with Kyrgyzstan's EcoIslamicBank banned
• The Times of Central Asia — EU Sanctions Kazakhstan, Kyrgyzstan Firms in Latest Russia Package
• The Times of Central Asia — Kyrgyz President Denounces "Politicized" Sanctions on Banks
• The Times of Central Asia — EU Targets Kyrgyz Financial Sector Over Russia Sanctions Evasion
• The Times of Central Asia — Kyrgyzstan Pushes to Lift U.S. Sanctions on Keremet Bank
• The Times of Central Asia — Kyrgyz Bank Wins Brussels Court Case Over Sanctions Accusations