Kyrgyzstan’s US-sanctioned Keremet Bank has stopped issuing Visa cards, though existing ones remain usable at its ATMs. The bank, accused of aiding Russian sanctions evasion, plans to appeal the US Treasury’s decision.
Kyrgyzstan’s Keremet Bank, which was hit with US sanctions earlier this month, has discontinued issuing payment cards supported by the international Visa system. However, already issued cards remain functional at the bank’s offices and ATMs.
"Due to restrictions imposed by the Visa international payment system, cards issued by Keremet Bank can only be used on devices (POS terminals, payment terminals, ATMs) owned by OJSC Keremet Bank," the bank’s press service stated.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) previously included Keremet Bank on its sanctions list. The Treasury Department stated that the bank’s officials had coordinated their actions with Russian authorities and the sanctioned Promsvyazbank to implement a sanctions evasion scheme since at least the summer of 2024.
According to Keremet Bank’s financial position report for last year, it held approximately $12 million in accounts with other banks. It was not specified how much of this was in local banks and how much in foreign institutions.
The Russian Promsvyazbank has been under sanctions for two years due to its involvement in Russia’s war against Ukraine. According to the US Treasury, it provided financial support to enterprises within Russia’s military-industrial complex.
The US sanctions against Keremet Bank have had no impact on the stability of the country’s domestic foreign exchange market, according to the National Bank of Kyrgyzstan. If necessary, the National Bank is prepared to deploy additional measures and tools to maintain the resilience and stability of the banking system and protect the interests of depositors and creditors.
Keremet Bank has stated that it intends to appeal to OFAC to challenge the allegations of sanctions violations.
Keremet Bank is not merely a private commercial bank. Until a few months ago, it was fully owned by the Kyrgyz government. However, last autumn, it was revealed that 75% of the bank’s shares had been acquired by Luxembourg-based Altair Holding.
Ukrainian President Volodymyr Zelenskyy said on Friday that his chief of staff, Andriy Yermak, has submitted his resignation amid a corruption scandal...
Two major protest marches are set to take place in the capital this evening, marking one year since the political controversy surrounding Georgia’s ...
Pope Leo condemned violence in the name of religion on Friday at a landmark event with Christian leaders from across the Middle East, urging them to o...
Russian President Vladimir Putin received Hungarian Prime Minister Viktor Orban in Moscow, on Friday. The two leaders held detailed talks on Russian o...
Kyrgyzstan is preparing to hold snap parliamentary elections on Sunday, 30 November 2025, after the Jogorku Kenesh (parliament) dissolved itself in Se...
Kyrgyzstan is preparing to hold snap parliamentary elections on Sunday, 30 November 2025, after the Jogorku Kenesh (parliament) dissolved itself in September.
Russia has proposed a comprehensive programme to equip the forces of the Collective Security Treaty Organisation (CSTO) with modern weaponry, aimed at strengthening collective security across the Eurasian region.
Bishkek and the Chuy region of Kyrgyzstan are under temporary traffic restrictions ahead of the upcoming session of the Collective Security Treaty Organisation (CSTO) Security Council, according to the Ministry of Internal Affairs.
Russian President Vladimir Putin was welcomed in Bishkek on Wednesday as he began a three-day state visit to Kyrgyzstan ahead of a Collective Security Treaty Organisation summit.
At least 47 people have died and another 21 are reported missing following ten days of heavy rainfall, floods, and landslides across Sri Lanka, local media reported on Thursday (27 November).
Hong Kong fire authorities said they expected to wrap up search and rescue operations on Friday after the city's worst fire in nearly 80 years tore through a massive apartment complex, killing at least 128 people, injuring 79 and leaving around 200 still missing.
Netflix crashed on Wednesday for about an hour in the U.S. as it launched season five of "Stranger Things", with the service becoming inaccessible to many subscribers within minutes of the episodes going live at 8 p.m. local time.
Thousands of Bulgarians took to the streets of Sofia on Wednesday to protest against the government’s draft budget for 2026, the first to be prepared in euros ahead of the country’s planned eurozone entry on 1 January 2026.
French health experts are warning that the highly pathogenic H5 strain of bird flu, already devastating wild and farm animals, could evolve into a virus capable of human-to-human transmission — potentially sparking a pandemic worse than COVID-19.
Ukrainian President Volodymyr Zelenskyy said on Friday that his chief of staff, Andriy Yermak, has submitted his resignation amid a corruption scandal.
Pope Leo condemned violence in the name of religion on Friday at a landmark event with Christian leaders from across the Middle East, urging them to overcome centuries of heated divisions.
Russian President Vladimir Putin received Hungarian Prime Minister Viktor Orban in Moscow, on Friday. The two leaders held detailed talks on Russian oil and gas supplies.
The Kremlin is set to evaluate a new diplomatic proposal aimed at halting the hostilities in Ukraine, with high-level discussions involving a Washington envoy scheduled for the coming days in Moscow.
The European Union’s high-stakes strategy to leverage hundreds of billions in frozen Russian capital to prop up Ukraine’s defence has hit a critical roadblock, with Belgium warning that the move could torpedo fragile diplomatic openings aimed at ending the conflict.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment