The President of the National Bank of Georgia Put Forward the Issue of Illegal Activities of Russian Commercial Banks in Abkhazia Before the United States Public Services
27 April, 2006
The visit of the President of the National Bank of Georgia, Roman Gotsiridze, to Washington (USA) was completed. Within the framework of the visit the last meeting was held at the United States Department of the Treasury. During the meeting the discussion mainly touched upon the illegal cooperation of Russian commercial banks with so called Abkhazian banking sector. When meeting with the representatives of the Service for Anti-Money Laundering and Combating the Financing of Terrorism it was noted that the banks are operating without any license i.e. illegally in Abkhazia. So, establishing correspondent relations with them contradicts the norms of international law and the Basel Committee Core Principles.At the meeting it was also stated that the correspondent relations of Russian banks with the USA banking sector which have been noticed in maintaining cooperation with so called Abkhazian financial structures will be studied inevitably. The activities of such Russian banks will be paid a due attention by the US banking system. The American banks have been forbidden to cooperate with the structures, which don’t respect the norms of international law – it was stated at the meeting.At the US Department of the Treasury the President of the National Bank of Georgia, Roman Gotsiridze, was promised to be assisted in discussing the issue related to the illegal cooperation of Russian commercial banks with so called Abkhazian banking sector under the aegis of FATF (Financial Action Task Force).Additional information on such illegal relations will be provided by the NBG.