The conflict between Russia and Ukraine had a significant impact on Kyrgyzstan's economy, given its close ties to the Russian market through trade, labor migration and financial flows.

In the first months of the conflict, the depreciation of the Russian ruble led to a decline in remittances from labor migrants, which make up a significant share of the country's GDP. Sanctions and disruptions in transport corridors also put pressure on supply chains, particularly in the import sector.

However, alongside these challenges, certain sectors of the economy experienced growth momentum. In particular, the intensification of foreign trade operations strengthened Kyrgyzstan's position as a key link in export-import flows with Russia. This contributed to an increase in trade volumes and higher budget revenues from customs duties and taxes.

Today, the leaders of the United States and Russia, Donald Trump and Vladimir Putin, will hold key negotiations. Experts shared their insights with Akchabar on the potential consequences for Kyrgyzstan and the regional economy.

Economist Iskender Sharsheev notes that in the short term, changes in sanction policies could either ease or complicate trade operations between Kyrgyzstan and Russia, impacting both entrepreneurs and government revenues.

In the long term, if tensions between the West and Russia ease, Kyrgyzstan can expect a stabilization of the external economic environment, improved conditions for migrants and the restoration of traditional logistics routes. However, if sanctions continue to put pressure on Russia, Kyrgyzstan will further integrate into Eurasian economic processes, bringing both new challenges and opportunities.

"The current geopolitical situation casts doubt on Kyrgyzstan's ability to achieve the so-called "economic miracle", since regional instability complicates access to foreign investments and narrows export markets", — the expert believes.

The most vulnerable financial flows in the current situation remain remittances from migrants, with around 400,000 Kyrgyz citizens still in Russia. This is partly due to the fact that any fluctuations in the Russian ruble directly affect the incomes of many Kyrgyz families. Additionally, food and industrial goods supply chains, which rely on imports, are under pressure, as sanctions and logistical disruptions lead to rising prices and increased delivery difficulties.

"Investment flows also remain unstable, as Western investors approach the region with caution due to risks associated with sanctions and potential secondary restrictions. At the same time, China, Russia and Turkey may increase their influence through direct investments, but on terms that could either limit or, in other cases, strengthen Kyrgyzstan's economic independence", — Sharsheev continued, noting that Kyrgyzstan could take advantage of the situation by enhancing its role as a transportation and trade hub between Russia, China and Central Asian countries.

To achieve this, in his opinion, reforms aimed at improving the investment climate, modernizing infrastructure and developing domestic industries are necessary.

In this regard, economist Mikhail Petrov agrees with his colleague. He believes that the most important thing is not to lose good and honest relations with Russia and China.

"The higher the level of agreements between Russia and the United States, the more stable the economic situation will be in the world, including in Kyrgyzstan", — he emphasizes.

In the event of a warming of relations between Washington and Moscow, the flow of goods through Kyrgyzstan, according to Petrov, will not decrease, as the world has already divided into global regions and will not return to the way it was before.

"Global regions will develop independently of each other", — the economist believes.

He added that our Republic could benefit significantly if not for the attempts of some government bodies to block economic flows arising from the shift in Russia's interactions from Europe to China and other Asian countries. Despite this, the expert notes the positive growth of the Kyrgyz economy.