Natia Turnava, Acting President of the National Bank of Georgia, reaffirmed Georgia’s unwavering commitment to international sanctions in an interview with GPB First Channel’s ‘Actual Saturday with Maka Tsintsadze.
Turnava emphasized that both the National Bank and the financial system are dedicated to upholding international sanctions. The focus is on improving compliance to prevent potential future challenges or legal disputes that could hinder compliance efforts.
She noted that the practice of sanctions is a lasting reality that will persist for several years, with the potential for expansion or modification. Therefore, addressing the enforcement of sanctions is crucial.
Turnava also pointed out that the enforcement of sanctions varies from one country to another. Notably, it doesn’t occur uniformly or automatically everywhere. Even in EU member states, Canada, and other developed countries, they strive to strike a balance between international obligations and their own national, sovereign functions and legislation.