Georgia joins Ukraine-related financial sanctions on Russia - president

Georgia joins Ukraine-related financial sanctions on Russia - president

Georgia is joining all the international financial sanction on Russia that were imposed over the special military operation in Ukraine, Georgian President Salome Zurabishvili said on CNN on Thursday.

"We participate in all the international financial sanctions (on Russia - SİA), and that really already means something for our financial sector," she said. "As of now, we also participate in all international resolutions that are being created to support Ukraine."

Georgian Prime Minister Irakli Garibashvili on February 25 said that the country didn’t plan to impose sanctions on Russia. Later, the country’s National Bank announced that it stripped the Georgian branch of VTB Bank of the right to serve individuals, borrowers and depositaries due to the sanctions that were imposed on Russian financial institutions. The retail loan and deposit portfolios were transferred to Basisbank, and the corporate banking portfolio to Liberty Bank.

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