Uzbek Authorities Advise Entrepreneurs Against Working with Sanctioned Russian Banks

Uzbek authorities have advised local entrepreneurs not to engage with Russian banks that have come under sanctions when making transactions with foreign partners. This information was reported by TASS.

According to a statement from the government commission on foreign trade, investment, and industrial development, “The Central Bank and banks have been instructed to work with local entrepreneurs to ascertain whether their foreign partners are under sanctions, and to ensure that information is provided to enterprises before any transactions are made.”

The Central Bank also emphasized the “necessity of advising all clients to conduct international transactions through other banks to avoid the undesirable blocking of funds.”