Georgia was, is and remains committed to international sanctions - NBG Head

2023/09/76576-1695625859.jpg
Read: 570     11:00     25 Сентябрь 2023    

Georgia has been, is and remains committed to international sanctions, Acting President of the National Bank Natia Turnava said.

"The National Bank and the financial system remain committed to international sanctions. Here we are talking about how to improve their execution so that in the future there will not even be a question and judicial practice will not appear that would prevent us from doing this", Turnava said.

According to her, the practice of sanctions is a new reality that will exist in the coming years. Therefore, the issue of sanctions enforcement should be regulated initially.

Natia Turnava also stated that the practice of applying sanctions in different countries is different, which already shows that the implementation of sanctions cannot and does not happen everywhere automatically, uniformly and simultaneously.

"I'm talking about the same EU member states, Canada and a number of developed countries, where there is no question whether this country recognizes sanctions or not. On the contrary, most often they are the authors of sanctions, but they always try to find the right balance between international obligations and their national, sovereign functions and legislation," Turnava said.





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Georgia was, is and remains committed to international sanctions - NBG Head

2023/09/76576-1695625859.jpg
Read: 571     11:00     25 Сентябрь 2023    

Georgia has been, is and remains committed to international sanctions, Acting President of the National Bank Natia Turnava said.

"The National Bank and the financial system remain committed to international sanctions. Here we are talking about how to improve their execution so that in the future there will not even be a question and judicial practice will not appear that would prevent us from doing this", Turnava said.

According to her, the practice of sanctions is a new reality that will exist in the coming years. Therefore, the issue of sanctions enforcement should be regulated initially.

Natia Turnava also stated that the practice of applying sanctions in different countries is different, which already shows that the implementation of sanctions cannot and does not happen everywhere automatically, uniformly and simultaneously.

"I'm talking about the same EU member states, Canada and a number of developed countries, where there is no question whether this country recognizes sanctions or not. On the contrary, most often they are the authors of sanctions, but they always try to find the right balance between international obligations and their national, sovereign functions and legislation," Turnava said.





Tags: