Although Georgia has not imposed individual sanctions on Russia for its invasion of Ukraine, the Georgian authorities will not allow using the country by individuals or companies to circumvent international sanctions, Georgian PM Irakli Garibashvili stated in Parliament on Friday.
He said that Georgia has become the target of “groundless accusations” in this regard by the opposition and “unfortunately by Kyiv.”
"We will not allow any sanctioned company, individual or individuals to use Georgia to circumvent sanctions. None of such facts have been detected so far, despite the fact that we have heard a number of completely baseless accusations, slander, both from the opposition and, unfortunately, from the Ukrainian government. In general, I would like to say that our legislation is in full compliance with international law and regulations, such as the UN Sanctions Committee regulations and the relevant UN Security Council resolution,” Garibashvili suggested.
He claimed that the country’s laws against money laundering, terrorist financing and promotion, control of military and dual-use products “make it impossible to evade sanctions.”
"In addition, we have very close coordination with our strategic partners, we have a constant exchange of information on a daily basis, and I want to reiterate that our government will certainly not allow the illegal activities of any country, any sanctioned company or individual in Georgia,” Garibashvili said.
He stated that the National Bank of Georgia and the country’s financial institutions have been operating “in full compliance with the financial policies of the United States, the European Union and the United Kingdom.”
“One of the main challenges the Georgian financial sector has faced (amid the war) was the issue of the VTB Bank branch which was managed at a highly professional level, and the National Bank and the government have done everything possible to ensure that our citizens did not have any problems,” Garibashvili said.
VTB Bank remains sanctioned due to Russia’s invasion of Ukraine.