The UK has sanctioned Kyrgyz financial institutions and crypto networks linked to Russia, targeting a $9.3 billion ruble-backed stablecoin operation. Sanctions were imposed on Capital Bank of Central Asia, its director Kantemir Chalbayev, and Kyrgyz crypto exchanges Grinex and Meer. The UK accuses these entities of aiding Russia in evading Western sanctions through the A7A5 stablecoin, which processed $9.3 billion in transactions over four months. The sanctions list also includes Luxembourg-based Altair Holding and CJSC Tengricoin, along with associated individuals. Kyrgyz President Sadyr Japarov denied allegations of his country's involvement in sanction circumvention, affirming Kyrgyzstan's commitment to international obligations while safeguarding its economic interests.