Georgian President Zourabichvili Denounces National Bank's Decision to Shield US-Sanctioned Otar Partskhaladze

| News, Politics, Georgia

During a press briefing on September 20, Georgian President Salome Zourabichvili criticized the National Bank of Georgia’s (NBG) recent decision to alter its regulations to shield Otar Partskhaladze, the US-sanctioned former Prosecutor-General. The president also denounced Irakli Kobakhidze, the head of the Georgian Dream, for making an overt threat against Natia Turnava, the NBG's interim president. She said that the acting president had yielded to pressure, weakening the Bank, and she referred to this action as base and unacceptable. She noted that several resignations today indicated that Turnava had seemingly changed the rules unilaterally without consulting other top bank officials. Natia Turnava has been asked to resign by President Zourabichvili, who has apologized to the people for her nomination. Zourabichvili also urged the National Bank Board to overturn Turnava's unreasonable decision.

On the same day, the Ministry of Justice of Georgia said that the State Agency for Development of Services has deemed it appropriate to revoke the citizenship of Otar Partskhaladze. This conclusion has been sent to the President of Georgia.

Moreover, the US State Department expressed concern about the NBG's decision. It warned of the risks of possible sanctions for individuals who conduct transactions with Partskhaladze. The State Department also said that individuals and entities that engage in transactions with Partskhaladze or other persons sanctioned by the US under the Russia-related sanctions are putting themselves at risk of sanctions. The State Department also noted that Georgia’s banking system is one of the best achievements in Georgia’s democratic history and emphasized that an independent national bank is the cornerstone of a healthy economy in any country.

In an interview with TV Imedi, Natia Turnava, the Acting President of the National Bank of Georgia (NBG), accused Zourabichvili of exerting pressure on the NBG Board and herself. Turnava defended the contentious choice to exclude Georgian nationals from international sanctions, claiming that her action was in line with Georgia's Constitution and would improve Georgian citizens' protection. In response to President Zourabichvili's sorrow that Turnava had fallen short of expectations, she stated that the strongest measure of success she used to assess her accomplishments was to meet the expectations of the Georgian citizens for the stability of prices and financial services.

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