Tashkent, Uzbekistan (UzDaily.com) -- Publications have spread on the Internet saying that with the adopted bill, Uzbekistan has decided to join financial sanctions against Russia.

It was previously reported that Uzbekistan is considering the possibility of introducing a ban on opening bank accounts for persons under economic sanctions. The Legislative Chamber of the Oliy Majlis approved the corresponding bill in the first reading.

The press service of the Legislative Chamber of the Oliy Majlis Parliament reported that the bill referred to in the publications is not directed against any state.

According to the press service, the draft law stipulates the introduction of an order that exists in many countries around the world. The purpose of this procedure is to prevent national financial organizations from applying secondary sanctions against them. The law is aimed at regulating and controlling risks associated with the introduction of secondary economic sanctions in the activities of credit and payment organizations in Uzbekistan.

Currently, in international economic life, the imposition and application of economic sanctions by various states, international organizations and financial institutions have become modern realities. However, the national legislation of Uzbekistan lacks a legal basis for regulating and controlling risks associated with the introduction of secondary economic sanctions in the activities of financial organizations in the country.

The draft law envisages the transfer to the Central Bank of Uzbekistan of powers to establish uniform requirements for managing risks associated with economic sanctions of credit institutions, payment organizations and payment system operators. This will improve the efficiency of government policy in the banking sector, create a unified approach to working with clients and strengthen the confidence of the population and international financial institutions in the banking system of Uzbekistan.