Bank of Georgia and TBC Bank will continue to comply with the requirements related to sanctions, regardless of the decision of the National Bank.
“We comply with and will continue to comply with the requirements related to the sanctions of the USA, the European Union and the United Kingdom,” the Bank of Georgia said.
“We are acting and will continue to comply with the requirements of the sanctions imposed by the USA, the European Union and the United Kingdom,” TBC Bank said.
For the record, the National Bank of Georgia made an exception regarding the citizens of Georgia in the procedure for the implementation of the sanctions regimes. The order of Natia Turnava, Acting President of the National Bank, has already been published in the Legislative Herald. It should be noted that the only citizen of Georgia who was under international financial sanctions is the former Prosecutor General Otar Fartskhaladze. In particular, according to the amendment, “international sanctions cannot be applied to a Georgian citizen, if there is no guilty verdict against them in the relevant case in the Georgian court”.
Related Story: NBG makes exception in sanctions rule, allowing Ex-Prosecutor General Partskhaladze to retain access to accounts
