Georgia participates in all international financial sanctions that were introduced against the Russian Federation due to the war in Ukraine. This was announced on Thursday by the President of the Republic of Salome Zurabishvili on the air CNN channel.
“We participate in all international financial sanctions [against the Russian Federation], and it really is already something means for our financial sector. By this time we also participate in all international resolutions that are created to support Ukraine,” Zurabishvili said .
Georgia Prime Minister Irakli Garibashvili on February 25 stated that the republic does not plan to introduce sanctions against the Russian Federation. Later, the National Bank of the republic reported that he decided to deprive the Georgian branch of the VTB Bank the Rights of the Service of Individuals, Borrowers and Depositories due to the imposed sanctions against Russian financial organizations. Retail credit and deposit portfolios were transferred to Basisbank, and the service portfolio of legal entities – “Liberty Bank”.