The European Union has imposed sanctions on three Tajik banks – Dushanbe City Bank, Spitamen Bank, and Kommertsbank of Tajikistan – as part of its 19th package of anti-Russian measures. The decision was published on the EU Council’s website and will take effect from November 12, 2025.
The latest sanctions list includes 12 banks and companies from third countries, including financial institutions from Tajikistan, Kyrgyzstan, Kazakhstan, the UAE, Hong Kong, China, and India. According to the EU Council’s official statement, these entities are accused of participating in circumventing EU sanctions, which results in a ban on conducting transactions with EU-based entities. This essentially limits their interaction with the European financial system, including euro transfers and settlements.
The National Bank of Tajikistan responds
The National Bank of Tajikistan (NBT) has stated that it is working with local financial institutions and international partners to assess the situation and take steps to mitigate any potential consequences.
“The banking services for clients in Tajikistan remain available and are operating as usual,” the NBT said in a statement. The bank also emphasized that all domestic operations – including transfers, account servicing, ATM operations, and mobile apps – continue without disruption. The only potential impact could affect international transfers to specific destinations, where additional checks may be implemented.
Banks insist on minimal impact
In a statement to Asia-Plus, Dushanbe City Bank assured that the sanctions would not significantly affect its operations:
“The bank continues to operate as usual, ensuring uninterrupted customer service and fulfilling all obligations. All domestic transactions, as well as transfers and settlements in most currencies, are carried out without restrictions.”
However, the bank acknowledged that there could be some challenges with cross-border transfers in euros or to certain regions, but it is already taking steps to minimize these issues and explore alternative channels of interaction.
Banks plan to appeal the sanctions
Dushanbe City Bank also stated that the reasons for the sanctions against several financial institutions have not been clarified, and they intend to use international legal mechanisms to seek clarification and potentially reverse the decision.
Meanwhile, the Kommertsbank of Tajikistan called the sanctions decision unfounded and said it would contest the measures:
“The bank fully complies with current legislation and international standards, continuing to operate stably and reliably, ensuring uninterrupted customer service. The bank’s management is taking all necessary steps to resolve the situation, including appealing to relevant authorities to challenge this decision. We are confident that this issue will be resolved soon, and the bank’s operations will remain transparent and secure for clients and partners,” the ba
