The heads of the ministries discussed prospects for cooperation in trade, economic, investment, education, and tourism. They paid special attention to the republic’s cooperation with the European Union in the context of Cyprus’ EU Presidency.

Jeenbek Kulubaev noted the strengthening of the EU’s sanctions policy. He expressed concern about the possible negative impact of unilateral restrictive measures on the trade, economic, and financial development of the Kyrgyz Republic. He also emphasized that the Kyrgyz side is against the politicization of international commercial relations and is committed to open dialogue to find mutually beneficial solutions.

Constantinos Kombos congratulated the republic on its election to the UN Security Council for 2027-2028. Following the talks, the ministers signed a two-year cooperation program between the two countries’ ministries.

Due to suspicions of circumventing restrictions against Russia, companies from third countries have begun to fall under international sanctions. For example, as part of the 20th sanctions package, the European Union imposed restrictions on the Bishkek-registered cryptocurrency platform TengriCoin, Keremet Bank, and Capital Bank. Furthermore, the supply of CNC machine tools and complex communications equipment to the republic has been completely banned.

Between 2024 and 2025, several commercial entities in Kyrgyzstan have already been subject to various restrictive measures imposed by the US, UK, EU, and Canada. These include Capital Bank of Central Asia, Tolubay Bank, Eurasian Savings Bank, the A7 payment platform, and the Grinex and Meer cryptocurrency exchanges. International partners imposed the first sanctions against private companies in the country in June 2024.

Kyrgyzstan’s authorities have repeatedly stated that restrictions against domestic banks are completely unfounded. President Sadyr Japarov, speaking at the UN, criticized the West for economic sanctions against the country. The head of state called such measures direct interference in the country’s internal affairs and pressure that seriously hinders the development of the still-emerging national economy.