Using Georgian banking system to circumvent sanctions impossible – National Bank of Georgia

It is impossible for sanctioned individuals to use the Georgian banking system to circumvent international sanctions, the National Bank of Georgia said on Thursday following the allegations of the Ukrainian MP David Arakhamia over using the Georgian companies and financial institutions by Russia to bypass sanctions imposed for its invasion of Ukraine. 

“The National Bank of Georgia complies with all standards and international resolutions, which rules out the completion of any type of sanctioned operation in the Georgian banking sector.

“Georgia’s financial sector is part of the global financial system and, naturally, operates in accordance with international norms and standards,” said the bank. 

Arakhamia, who is described as a “lobbyist of the radical Georgian opposition” by the Georgian Dream authorities, has raised the accusations several times, along with other Ukrainian officials. 

Tbilisi had demanded evidence for the “absurd and groundless” allegations which had not been presented so far.