On December 20, the Georgian Banking Association stated

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Presumably, legally, the exceptional order issued by the Acting President of the National Bank, Natia Turnava, on September 19, 2024, does not apply to the sanctions of the “Global Magnitsky Act”, as the order only regulates the implementation of sanctions imposed due to Russia’s invasion of Ukraine. Accordingly, this exception applies only to those citizens who were sanctioned within the framework of international sanctions related to Ukraine, and not under other sanction norms, including the “Global Magnitsky Act” package.


that the banking system strictly adheres to and will continue to adhere to the sanctions imposed by the US, the European Union, and the UK. On December 19, the United States added Georgian Interior Minister dubai fax data Vakhtang Gomelauri to the sanctions list under the Global Magnetic Act and imposed financial and visa restrictions on him. The decision was related to the unlawful use of force by the Ministry of Internal Affairs against peaceful demonstrators.


A total of 6 Georgian citizens have been included in the US sanctions under the Global Magnetic Act. BMG asked the National Bank whether the NBG believes that the exceptional order also applies to persons sanctioned under the Global Magnitsky Act, while the text of the order refers only to sanctions related to Ukraine, and the sanctions under the Global Magnitsky Act are not related to the Ukrainian conflict.