Georgia’s National Bank labels European Parliament’s resolution as ‘political pressure’

The National Bank of Georgia (NBG) has issued a statement in response to the European Parliament’s resolution calling for sanctions against Georgian businessmen and high-ranking officials, including NBG President Natia Turnava.

The bank emphasized that the resolution is purely recommendatory and condemned the inclusion of its president in the sanctions proposal as a clear example of political pressure on an independent financial regulator.

“This resolution, like others of its kind, is only advisory in nature. However, the call to impose sanctions on the acting President of the National Bank of Georgia is a textbook case of political interference, driven by certain local political forces. Unfortunately, these forces are using the European Parliament’s platform to pursue their own political agendas, jeopardizing the country’s economic development and financial stability,” the statement read.

The bank asserted that Georgia’s economic fundamentals remain strong, with inflation below target and robust economic growth. It also stressed that the NBG’s monetary policy has received high praise from international organizations, and Georgia’s financial sector remains transparent and compliant with anti-money laundering and sanctions regulations.

The statement further rejected any attempts to pressure the country’s independent financial regulator or discredit the banking sector, labeling such actions as unacceptable and contrary to internationally recognized standards.