Swiss bank imposes new restrictions on ex-PM, ruling party founder Ivanishvili

The leading Swiss bank Credit Suisse has imposed new restrictions on the former prime minister of Georgia, the founder of the ruling Georgian Dream (GD) party, Bidzina Ivanishvili, MKD, the company hired by Ivanishvili said Thursday, stating that Ivanishvili received the letter over the bank’s decision on July 5. 

“We are talking about the resolution of the European Parliament, in which it called on the European Council to consider the imposition of sanctions on Ivanishvili. The bank explains that the said resolution gave rise to regulatory obligations on the part of the bank and that the trustee will no longer carry out its actions without the consent of the court,” said the company, noting that the bank would do its best to linger judgements for years. 

The statement said that the decision would damage the bank’s image. 

“It is obvious to the client that the bank’s actions serve the purpose of exerting political pressure,” said the company, noting that the resolution had only a recommendation character and had not been approved by the European Council. 

“It is interesting how long the bank is going to refer to a document that has not been approved by any executive structure of the European Union,” the statement read

Earlier this year Ivanishvili won a long-running battle with Credit Suisse to reclaim. 500 million USD. 

The transfer has been delayed.