Acting National Bank President, EU Ambassador discuss controversial sanctions compliance amendments
“We maintain constant communication with the National Bank. We reviewed the recent processes taking place in the Bank. I emphasised the significance of NBG as being a strong and independent professional state institution”, Herczyński said. Photo via NBG
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Natia Turnava, the Acting President of the National Bank of Georgia, on Friday met Paweł Herczyński, the Ambassador of the European Union to Georgia, to explain the recent controversial amendments to the regulation on the body’s compliance with the international financial sanctions against Russia that exempted citizens of the country from domestic sanctions without court rulings.
Turnava told Herczyński that the purpose of the amendments was to ensure “full enforcement” of the sanctions and compliance with the local legislation. She emphasised that the NBG was in “constant communication” with commercial banks and international organisations over the matter.
The conversation also touched on the need to renew the temporarily suspended programme with the International Monetary Fund.
After the meeting, Turnava said the Georgian financial system and the National Bank remained committed to the implementation of international sanctions and noted she had discussed the importance of the macroeconomic stability of the country with the EU Ambassador.
We maintain constant communication with the National Bank. We reviewed the recent processes taking place in the Bank. I emphasised the significance of NBG as being a strong and independent professional state institution”, Herczyński said.
He expressed hope that the IMF would renew its programme, which would help the EU to provide direct support to the country and continue smooth cooperation.
Natia Turnava, the Acting President of the National Bank of Georgia, on Thursday met Andrew Jewell, the permanent representative of the International Monetary Fund in Georgia, to explain the controversial recent amendments in the regulation on the body’s compliance with the international financial sanctions against Russia that exempted citizens of the country from domestic sanctions without court rulings.
The National Bank of Georgia on Tuesday said it had amended its regulation on compliance with the international financial sanctions against Russia for its invasion of Ukraine, exempting Georgian citizens from being sanctioned without domestic court judgement.
Natia Turnava, the Acting President of the National Bank of Georgia, on Wednesday told Imedi TV channel there would be “no problems” with a “stable” operation of the institution despite resignations of several members of its board following a controversy of a Bank decree exempting Georgian citizens from being sanctioned without domestic court judgments this week.
Natia Turnava, the Acting President of the National Bank of Georgia, on Wednesday said the Bank was in “constant communication” with commercial banks to ensure the implementation of new regulation in compliance with the international obligations of both NBG and commercial banks.
Natia Turnava, the Acting President of the National Bank of Georgia and the representatives of the country’s banking sector and the Business Association of Georgia on Wednesday reviewed the current situation in the banking sector and discussed the future plans, which will create an additional impetus to the economy.