Uzbekistan is moving to bar sanctioned individuals from opening bank accounts within its financial system, a policy that could reshape relations with Russia, according to political analyst Vladimir Khomyakov. In a discussion with Tsargrad.tv, he characterized the Uzbek government’s approach as provocative and said reciprocal actions may follow.
The ban on citizens opening accounts is seen as a blunt setback to commercial ties between the two countries. Khomyakov argued that Uzbekistan is trying to align with openly anti-Russian sanctions as it integrates into the global financial framework, ensuring its banks stay clear of sanctions risk.
He noted that Uzbek banks might decline new accounts or block certain financial transactions to avoid potential violations of Western restrictions. He also explained that when licensing banks, Uzbek authorities will require a documented plan detailing the measures they will take to ensure compliance with anti-Russian sanctions.
According to the analyst, the current situation echoes the stance of the US Department of Trade from the previous November, when export restrictions were placed on a project by Mvizion in Uzbekistan. The ministry cited the aim as supporting the military industrial complex and drone production in Russia.
It is recalled that on February 14 the Parliament of Uzbekistan approved in the first reading a bill that would authorize banks to refuse opening accounts or conducting transactions for sanctioned individuals to safeguard the banking system. Experts emphasized that this decision is unlikely to significantly curb Russian access to international financial services, as Russians will probably retain the ability to use global financial channels.
Earlier, comments from the Russian Foreign Ministry protested the statements made by the Rector of a journalism university and involved Uzbek diplomatic officials. [Citation: Tsargrad.tv]