The National Bank of Georgia categorically rules out the possibility of sanctioned persons to carry out any kind of financial transaction using the Georgian banking sector - in case of such a discovery, the National Bank will react strictly, the National Bank of Georgia says in its statement.

At the same time, the statement reads that the National Bank complies with all standards and international resolutions, which excludes the implementation of any type of sanctioned operation in the Georgian banking sector.

"Georgia's financial sector is part of the global financial system and, naturally, operates in accordance with international norms and standards.

We have repeatedly stated that the National Bank of Georgia is always guided by the requirements set by international resolutions when regulating the financial sector. We would like to remind you that the National Bank instructed representatives of the Georgian financial sector on the very second day of the war to fulfill the requirements of sanctions, and as a regulator of the financial sector, it adheres to all standards and international resolutions, which excludes any sanctioned operations in the Georgian banking sector.

The diplomatic corps as well as international organizations have repeatedly responded to the rapid, adequate and effective actions of the National Bank. The International Monetary Fund (IMF) said in a statement that "The swift and adequate actions of the National Bank of Georgia ensured effective enforcement of sanctions by the financial sector."

At the same time, the National Bank works closely with international institutions, ensuring that banks are constantly provided with up-to-date information on sanctioned individuals and organizations. Assistance in avoiding sanctions is not in the interest of Georgian banks either and their activities are constantly monitored by the National Bank. These approaches are well known and have been praised by our partner countries, including the United States, the European Union and the United Kingdom," reads the statement.