Crypto Network Sanctioned Against Russia, President Of Kyrgyzstan Files An Appeal To Trump-Starmer

President of Kyrgyzstan Sadyr Japarov (center)/PHOTO via Instagram @sadyr_japarov

JAKARTA - President of Kyrgyzstan Sadyr Japarov appealed to US President Donald Trump and British Prime Minister Keir Starmer on Thursday after London imposed sanctions on the Kyrgyzstan crypto network that Russia said was using to circumvent sanctions against Moscow.

"I will appeal to the supreme leaders of these countries, to (US President) Donald Trump and (British Prime Minister) Keir Starmer," Japarov told the news agency of the Kyrgyzstan government.

"There is no need to politicize the economy," he continued.

London on Wednesday imposed sanctions targeting infrastructure behind A7A5, ruble's stablecoin, which was launched in Kyrgyzstan.

Britain claims to have moved $9.3 billion in four months.

Luxembourg-based companies and four Kyrgyzstan entities, including Grinex LLC and Old Vector LLC, linked to infrastructure behind the A7A5, are subjected to sanctions.

The US imposed sanctions on Grinex and Old Vector last week, saying it was involved in facilitating sanctions avoidance and supporting illegal crypto activity.

Japarov denied that one of the 21 banks in Kyrgyzstan was involved in efforts to avoid sanctions.

"To prevent them from being sanctioned, we have decided that only state-owned Bank Keremet will work with Russian rubles. All operations are controlled by the state, and the profits go into the state budget," said Japarov.

Washington imposed sanctions on Bank Keremet in January, arguing that the middle bank created a trade payment center and helped Moscow avoid restrictions. Keremet said it would oppose the decision.

"We are ready to comply with international obligations," said Japarov.

"But I will not allow the interests of our citizens and trade and state economic development to be eliminated," he added.