National Bank in “full compliance” with int’l sanctions on Russia - Acting Chair
National Bank officials on Wednesday hosted sanctions officials from the European Union and the United States. Photo: NBG
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Natia Turnava, the newly appointed First Vice President of the National Bank of Georgia, who currently serves as the Acting Chairperson of the institution, on Wednesday told sanctions officials from the European Union and the United States the Bank was acting “in full compliance” with the international sanctions imposed on Russia for its invasion of Ukraine.
- Allies know Gov’t has prevented “dozens of attempts” of Russia sanctions evasion - ruling party head
In a Tbilisi meeting with David O’Sullivan, the EU Sanctions Envoy, James O'Brien, the Head of the Office of Sanctions Coordination in the US President Joe Biden administration, and Kumar Iyer, the Director General for Economics, Science and Technology at the United Kingdom Foreign Office, Turnava and other officials from the Bank also said evaluations by the US Department of State had confirmed the alignment of the country’s financial institution with the enforcement of sanctions.
Compliance with the international financial sanctions has been “systematically monitored” during on-site inspections of financial institutions in the country by the National Bank starting with the second day of the hostilities in Ukraine, the NBG press office cited its authorities as saying.
The visiting officials were also introduced to results of the monitoring efforts “in detail” at the meeting, the press office added.
Maka Botchorishvili, the Chair of the European Integration Committee of the Georgian Parliament, on Wednesday said Georgia, as a partner of the European Union, was “doing its best” to prevent evasion of the sanctions imposed by the bloc against Russia for its invasion of Ukraine.
Irakli Kobakhidze, the head of the ruling Georgian Dream party, on Wednesday said Tbilisi had prevented “dozens of attempts” of evasion of the international sanctions imposed on Russia for its invasion of Ukraine last year, adding “our foreign partners are well-aware of this”.
Georgian Government’s coordinated work with the European Union and the international community to enforce the financial sanctions imposed against Russia for its invasion of Ukraine was discussed on Tuesday in a meeting between the Georgian Prime Minister Irakli Garibashvili and sanctions officials from the European Union, the United Kingdom and the United States.
Maka Botchorishvili, the Chair of the European Integration Committee of the Georgian Parliament, on Monday said the country’s authorities were doing “everything” to prevent evasion of sanctions against Russia for its invasion of Ukraine through the Georgian territory.
Khatia Dekanoidze, an opposition MP in the Georgian Parliament, on Thursday said the “absence of any evidence” that Russia could use Georgia to evade international sanctions imposed on it for invading Ukraine last year was “definitely important” for the country.
Maka Botchorishvili, the Chair of the European Integration Committee of the Georgian Parliament, on Thursday said this week’s visit of sanctions officials from the European Union, the United Kingdom and the United States to the country had “put an end to the speculation” on the topic of enforcement of the international sanctions imposed on Russia for its invasion of Ukraine, and said “no black hole exists or will exist in Georgia”.
Georgian Economy Minister Levan Davitashvili on Thursday said visiting sanctions officials from the European Union, the United States and the United Kingdom had “once again confirmed” the “correct steps” being taken by the Georgian Government in its enforcement of the international sanctions imposed on Russia for its invasion of Ukraine.
Natia Turnava, the newly appointed First Vice President of the National Bank of Georgia, who currently serves as the Acting Chairperson of the institution, on Saturday said the independence of the Bank, guaranteed by the Georgian Constitution, would be “inviolable and protected”.