National Bank of Georgia Lifts Partskhaladze's Account Restrictions the Following Day
By Liza Mchedlidze
Thursday, September 21, 2023
The National Bank of Georgia has reversed its decision to impose restrictions on Otar Partskhaladze in compliance with the sanctions imposed by the USA. Consequently, the National Bank's sanctions on Partskhaladze will be lifted, allowing him to regain access to banking services.
The President of the National Bank has introduced an exception to the rule governing the execution of sanctions regimes. Under this new exception, a Georgian citizen will only be subject to sanctions if a legally binding guilty verdict has been issued by a Georgian court pertaining to the grounds for the sanctions imposed on them.
"The Constitution of Georgia protects every Georgian citizen. The National Bank of Georgia, guided by the Constitution and the principle of innocence, asserts that international sanctions should not be applied to a Georgian citizen unless a guilty verdict has been issued against them in a relevant case by a Georgian court," reads the statement issued by the National Bank of Georgia.
According to Natia Turnava, Acting President of the National Bank, "the name and surname of the sanctioned citizen are not important to the National Bank."
Turnava further clarified that this change applies to any citizen of Georgia who might find themselves in a similar situation and does not target any specific individual.
"Linking this decision to the protection of a specific individual or the avoidance of sanctions is an attempt to politicize it. We are a national institution in a sovereign state, a national bank. We fulfill and respect all international obligations, but our actions are guided by the Constitution and legislation of Georgia.
Our commitment is to ensure that, during the enforcement of international sanctions involving any Georgian citizen in such a situation, we rigorously protect the fundamental rights defined by our Constitution. This enforcement will always be carried out in accordance with our Constitution. This is the essence of our decision," stated Natia Turnava during the briefing.
TBC and Bank of Georgia, plan to adhere to Western sanctions requirements without exceptions, irrespective of the National Bank's decision.
