Georgia will not participate in economic and financial sanctions on Russia following Moscow’s full-scale assault against Ukraine, Prime Minister Irakli Garibashvili told the country’s media on Friday, citing national interests.
“During these years, among other issues, we have managed to de-escalate our tense relations with Russia, which was in line with Georgia’s national interests, and I will not make any decisions against them,” the PM said.
In a statement on Friday, the National Bank of Georgia said it would support the local branch of Russia’s state-owned VTB Bank after it was sanctioned by Western powers. The bank will not be able to carry out transactions in US dollars, British pounds, or euro from March 26.
The national bank vowed to ensure VTB remains “solvent” and said the interests of the depositors are “fully protected.”
On Thursday morning, Russia announced the commencement of a special military operation in the Donbass after the leaders of the breakaway republics asked Moscow for assistance in response to what they claim is an increase in “Ukrainian aggression.”
Moscow recognized the independence of the Donetsk and Lugansk breakaway republics on Monday.