On 8 October the United Kingdom imposed sanctions on three companies from Kyrgyzstan as part of restrictions related to Russia. The measures targeted organisations in the financial sector, as well as the head of one of them. The decision provides for the freezing of assets and restrictions on making payments.
WHAT IS KNOWN
According to 24.kg, citing an official sanctions notice from the UK Foreign, Commonwealth and Development Office (FCDO), the list included Processing KG OJSC, TokenSpot CJSC and Tsunami Payments LLC.
The British authorities stated that there are reasonable grounds to suspect these companies of activities that benefit or support the Russian government. Restrictions under the British sanctions regime were applied to each organisation.
WHAT RESTRICTIONS AFFECTED THE COMPANIES
The organisations are subject to asset freezes, restrictions on the provision of trust services and on carrying out actions related to directors, as well as restrictions on internet services.
In addition, British credit and financial organisations are prohibited from establishing correspondent banking relationships with the companies and from processing payments to them, on their behalf or through them.
WHY PROCESSING KG WAS ON THE LIST
The company Processing KG was assigned the identifier RUS3756. In its sanctions record, its parent structure is listed as the Ministry of Finance of Kyrgyzstan, which is the sole shareholder of the organisation.
The British authorities also linked Processing KG OJSC to the activities of the payment platform VexPay, noting this link in the company's official sanctions record.
The company's director, Ulan Arymbayevich Bukabayev, was hit with personal sanctions. He is subject to an asset freeze, a ban on entering the United Kingdom, restrictions on trust services and on holding directorships in the British jurisdiction. The stated basis was his work as the company's director.
WHAT IS KNOWN ABOUT TOKENSPOT AND TSUNAMI PAYMENTS
The Bishkek-registered TokenSpot CJSC was assigned the identifier RUS3758. According to the British authorities, there are reasonable grounds to suspect the company of benefiting from the Russian government or supporting it through activity in Russia's financial sector, which the United Kingdom classifies as a strategically significant industry.
The third organisation was Tsunami Payments LLC, which received the identifier RUS3763. The British side explained the company's inclusion in the list by its alleged activity in the Russian financial sector.
The company was registered in Kyrgyzstan in February 2024. In June 2024, the National Bank of Kyrgyzstan issued it two licences: for the processing and clearing of third-party payments and settlements, and for accepting and making payments for goods and services through payment systems.
CONTEXT
In May 2026, the United Kingdom imposed sanctions on the Kyrgyz Virtual Asset Issuer OJSC, which issues the stablecoin USDKG. The restrictions also affected Eurasian Savings Bank OJSC and State Brokerage Company OJSC. The British authorities stated that the organisations could be benefiting from the activities of the Russian government or supporting it through the financial sector. Asset freezes and other restrictions were provided for the companies and their management.
UK restrictions have also affected Kazakh enterprises. On 7 November 2024, TauKZ LLP fell under British sanctions. According to a statement by the British authorities, the company supplied goods or technology that could contribute to Russia's activities against Ukraine. The organisation was subject to an asset freeze and restrictions on the provision of trust services.
The European Union has also included Kazakh companies in sanctions lists related to Russia. Under the 20th sanctions package, approved in April 2026, the restrictions affected, in particular, United Trading Group. The 21st package, approved in July 2026, included TauKZ LLP and KBR-Technologies LLP. For these organisations, enhanced export restrictions on dual-use goods and technologies were provided.
