One of Kyrgyzstan's largest banks suspends transfers in Russian roubles

MBank, the fourth largest bank in Kyrgyzstan by assets, has suspended money transfers through Russian banks.

Source: Russian online newspaper The Moscow Times, citing the bank's website

Details: "Money transfers through Russian banks, particularly Sberbank, Tinkoff and MTS, have been suspended in both directions. This service is temporarily unavailable for an indefinite period. Incoming transfers will be made through banks that are not subject to sanctions, using rouble details," the bank said in a statement.

The newspaper reported that several banks in Kyrgyzstan have suspended money transfer systems from Russia this year following an expansion of sanctions against Russia.

In June, the United States significantly expanded sanctions against Russia, blacklisting hundreds of new items, in particular, the Moscow Stock Exchange, which was forced to announce the suspension of trading in currency pairs with the US dollar and the euro effective 13 June.

Background: Rosatom, a Russian nuclear energy corporation, continuously generates additional revenue for the Russian treasury through its Dutch subsidiary, thereby funding the war against Ukraine.

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