NBG: No transactions involving sanctioned persons observed

20:03, 23.02.2024

The National Bank of Georgia (NBG) has responded to information circulating in some media about the sanctioned Russian bank Sberbank allegedly making transfers from its accounts to Georgian banks.

According to the NBG, they regularly inspect all representatives of the financial sector, and no transactions involving sanctioned persons were observed within their supervision.

“The National Bank issued instructions on February 26, 2022, for the financial sector to comply with sanctions imposed by the USA, UK, and the EU against Russia and Belarus.

Commercial banks are obligated to introduce measures to eliminate and prevent the circumvention of sanctions regimes.

The National Bank conducts regular inspections to ensure compliance with sanctions requirements, and no transactions involving sanctioned persons were recorded during this supervision,” the NBG states.

By - Tamar Tabatadze

Economics

Politics

National Bank

sanctions