Kyrgyz Republic-based Keremet Bank, which was sanctioned by the US, said that its Visa bank cards are now only serviced on devices owned by Keremet. The bank has offered users of these cards to switch to cards of the national payment system, Elkart.
According to the US Treasury’s statement, in 2024, the Kyrgyz Ministry of Finance sold a controlling stake in the bank to a company linked to a Russian oligarch with ties to the Russian government. Bank announced on January 16 that it would appeal the sanctions.
