Commercial banks are obliged to act in accordance with the norms established by the Constitution of Georgia and legislation, - Natiam Turnava, President of the National Bank, said in response to a question asked by Imedi regarding the sanctions imposed by the British government on Imedi and POSTV.

In particular, Natia Turnava explains that if a conflict arises between a normative act adopted in another jurisdiction and the Constitution and legislation of Georgia, commercial banks are obliged to act in accordance with the norms established by the Constitution and legislation.

“Commercial banks operating in the country are legal entities established in accordance with the legislation of Georgia, the activities of which are subject to the Constitution of Georgia and national legislation. In the event of a “conflict” between a normative act adopted in another jurisdiction and the Constitution and legislation of Georgia, commercial banks are obliged to act in accordance with the norms established by the Constitution and legislation,” said Natia Turnava, President of the National Bank.

For information, on February 24, the UK imposed sanctions on the TV companies Imedi and POSTV. According to the UK government, the sanctions were imposed on Imedi and POSTV as “organizations involved in the spread of Russian disinformation.” The sanctions imposed by the UK include an asset freeze, a ban on financial services for asset management, and a director disqualification. The sanctions document states that Imedi and POSTV “deliberately disseminate misleading information about Russia’s full-scale invasion of Ukraine to their audience, which is mainly represented in Georgia.”```