According to information from agency sources, after the outbreak of hostilities, Kyrgyzstan has become a key trade hub through which European goods subject to sanctions are entering Russia. Analysts from the Brookings Institution note that exports from the EU to Kyrgyzstan have significantly increased: supplies from Estonia have risen tenfold, while those from Finland, Poland, and Greece have surged by thousands of percent. Most of this product, experts believe, ultimately ends up in the Russian market.
A cryptocurrency exchange called Grinex has also been launched in Kyrgyzstan, operating exclusively with the A7A5 stablecoin, which is pegged to the Russian ruble. This financial instrument, created with the participation of a Russian defense bank and entrepreneurs, has begun to be used for international settlements amid the existing sanctions. It is estimated that by the beginning of 2026, the volume of transactions with this stablecoin could reach around 100 billion dollars.
