The National Bank of Georgia responds to the allegation spread today by some of the non-government organizations, claiming that the NBG, together with the Georgian authorities, is blamed of taking cover of persons sanctioned by the USA.

The National Bank of Georgia declares with full responsibility that the said allegation is totally unsubstantiated and aims to discredit not only the Central Bank of the country, but also the entire banking system and attempts to mislead the public.

It is not clear what gives the non-government sector the basis to make such a statement, as there have been no specific cases of violation of the sanctions enforcement process in the financial system of Georgia so far.

Therefore, blaming the National Bank of Georgia of facilitating the violation of sanctions is downright inappropriate. Moreover, we never, even at the review level, allow the circumvention of sanctions. The financial system of Georgia meticulously follows the requirements set by international partners. Despite a number of challenges, the sanctions enforcement process is as transparent and efficient as possible. Any changes made to the regulations are not tailored to the interests of specific individuals, but serve to ensure full compliance of the sanctions enforcement process with local legislation and international requirements.

The National Bank of Georgia maintains ongoing communication with international partners. The financial system of Georgia has never been, nor will it be in the future, a place to avoid sanctions, which is what our international partners believe and trust in.

In the future, the National Bank of Georgia and the financial system will continue to take all the necessary measures to strengthen and reinforce the country's financial stability.