The European Union has removed three financial institutions in Tajikistan from its sanctions list. The decision was adopted on April 23, as part of the EU’s 20th sanctions package, according to the National Bank of Tajikistan.
The move concerns Spitamen Bank, Dushanbe City Bank, and Commercebank of Tajikistan, which had previously been subject to restrictions introduced on November 12, 2025.
“As a result of productive dialogue and cooperation between the relevant authorities of the Republic of Tajikistan and European partners, a favorable basis has been created for reviewing previously imposed restrictions,” the National Bank said.
The National Bank also noted that the decision reflects strengthened cooperation between the regulator, government ministries, and the European Commission, as well as the consistent implementation of international compliance standards and improvements in anti-money laundering systems.
“The adoption of this decision is viewed as a direct result of expanded cooperation with the European Commission, the consistent implementation of international compliance standards, and the strengthening of mechanisms to combat money laundering,” the statement said.
The regulator believes the move will provide a strong boost to the development of the banking sector, increase investor confidence, and expand financial services in the country.
The sanctions against the three Tajik banks had originally been introduced under the EU’s 19th package of restrictions against Russia. According to the Council of the EU, the measures included a ban on transactions with certain banks and companies from third countries suspected of facilitating sanctions circumvention.
At the time, Brussels considered these institutions potential channels for bypassing restrictions imposed on Russia. The list also included financial entities from Kyrgyzstan, Kazakhstan, the United Arab Emirates, Hong Kong, China, and India.
However, specific cases or transaction volumes that led to the sanctions were not disclosed. The wording remained general, referring to “assistance in sanctions circumvention” and “support for the Russian economy.”
In response, Tajik authorities worked to secure the removal of the restrictions, providing additional guarantees and information to the EU demonstrating that the banks’ financial operations comply with international standards.
For its part, the EU showed readiness to reconsider the measures, taking into account changes in the banks’ financial practices and Tajikistan’s efforts to strengthen domestic financial regulation.
