According to the National Bank of Georgia, commercial banks will continue to provide services to Telasi in the national currency.

According to the NBG, despite the fact that the indirect owner of Telasi is the Russian Inter RAO, which is subject to EU sanctions, Telasi itself is not included in the list of sanctioned entities and is a company providing critical services, the uninterrupted functioning of which is necessary for the population and the economy.

According to the NBG, the National Bank of Georgia, within its competence, ensures the use of appropriate approaches to comply with the requirements of the sanctions and take into account the continuity of critical services.

“We would like to respond to the issue of the extension of sanctions against Inter RAO within the framework of the 21st package of sanctions imposed by the European Union against Russia and clarify that the aforementioned company is an indirect owner of JSC Telasi. In addition, JSC Telasi itself is not included in the list of sanctioned entities and is a company providing critical services, the uninterrupted functioning of which is necessary for the population and the economy.

Taking into account the requirements of international sanctions, the National Bank of Georgia, within the scope of its competence, ensures the use of appropriate approaches so that, on the one hand, the requirements of the sanctions are observed, and, on the other hand, the continuity of critical services is taken into account.

In addition, when assessing issues related to sanctions, specific circumstances are taken into account, including the nature and purpose of the operations to be carried out. Accordingly, banks will continue to provide services to JSC Telasi in the national currency, in accordance with the requirements of applicable sanctions, NBG regulations, their own policies, as well as risk assessment approaches," reads the NBG statement.