The new route, part of China's economic expansion efforts, aims to expand Chinese commercial influence in Central Asia and Europe while bypassing Russian territory.
"Money transfers through Russian banks, including Sberbank, Tinkoff, and MTS, have been suspended in both directions. This service is unavailable indefinitely," the bank's statement read.
The foreign agent laws adopted this year by Georgia and Kyrgyzstan are not fueling mounting authoritarianism and crony rule. They are the result of it. Critics of the countries’ regimes derisively allude to the legislation cracking down on nongovernmental organizations that receive funds from abroad as “Russian laws.” This is
Under Kyrgyz law, participating in conflicts on foreign territory is forbidden.
Mbank, Kompanion Bank, RKS Bank, Kyrgyz-Swiss Bank (KSB), Kyrgyzcommerzbank, and Keremet Bank have imposed various restrictions on transfers using Russian payment systems.
Russia is increasing imports of sanctioned dual-use goods like drones or U.S.-made computer chips from China via Central Asian trade routes, the Wall Street Journal (WSJ) reported on March 4.
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