On September 26, Natia Turnava, Acting President of the National Bank of Georgia, met with Paweł Herczyński, Ambassador of the European Union to Georgia, the press office of the National Bank of Georgia reported.

The subject of the discussion were the recent amendments to the laws controlling the application of financial sanctions, which were introduced by the US, the UK and the EU in response to Russia's invasion of Ukraine. Natia Turnava explained that the adopted amendment serves to perfect compliance with the restrictive measures and to fully harmonize with the legislation of Georgia. "The National Bank of Georgia maintains constant contacts with commercial banks and foreign organizations," the Acting President emphasized. The need to resume the temporarily suspended program with the International Monetary Fund was also discussed.

After the meeting Paweł Herczyński said: "For my part, I stressed the crucial importance of the independence of the National Bank of Georgia and, in general, the need to build strong, independent and professional state institutions, especially now that the European Commission will publish its first enlargement report on Georgia in a month's time. Strong state institutions are specifically mentioned in priority number two, one of the 12 priorities". Herczyński noted, "Micro-financial stability is crucial for all beneficiaries of EU assistance.

Recently, the International Monetary Fund (IMF) suspended its financial assistance program in Georgia. As previously reported by Caucasus Watch, the National Bank of Georgia issued a statement informing the public of the amendment to its regulation, promulgated by the Bank's President and published in the Official Gazette, which would protect Otar Partskhaladze, who has been sanctioned by the U.S. Treasury Department, from having his assets and transactions in Georgia targeted.