The EU has sanctioned a bank that handles Korona Pay, Russia’s main international money transfer service used by many migrant workers. In response, Uzbek banks are working to help their clients avoid the fallout, according to Kursiv Uzbekistan.
Transfers to Uzbekistan via Korona Pay, also known as Zolotaya Korona (Golden Crown in English), are still occurring. Uzbekistan’s Central Bank confirmed this after the European Union included the payment system’s settlement bank in its latest round of sanctions against Russia.
Otabek Tojiddinov, who leads the Central Bank’s Currency Regulation and Supervision Department, explained that the restrictions are aimed at the bank...