“Regarding the transit potential, Georgia has the opportunity to offer its resources to the world, and on the other hand, it is said that Georgia should not be used as a circumvention mechanism for the sanctions and should play its role in this process,” – the former member of the Board Member of the National Bank of Georgia, Professor Nikoloz Kavelashvili said. He stated Georgia should adhere to the sanctions, even though it might be economically unprofitable.
"Georgia must comply with any sanctions. It may be economically unprofitable, but in the end it will be politically and economically useful, if we act the way as the rest of the world does. However, there will probably be pressure from Russia, but we are already under a lot of duress from the other side, and I think Georgia will lose more if it does not share the world attitude. I understand Georgia's position that it is careful at this stage," - said Nikoloz Kavelashvili.
Kavelashvili also spoke about the case of VTB Bank and noted that it was a step towards the stability of the Georgian banking system.
"VTB Bank would definitely be sanctioned and it has even experienced this, the banking system is like dominoes - once one falls, the rest follow and it happened very well that the assets of this bank were transferred to another bank.
"Although VTB is a Russian bank, it is still part of the Georgian banking system; thus the Georgian banking system was maintained in order one bank not to fall and another not to follow," – stressed Nikoloz Kavelashvili.
0
0
One US dollar trades at GEL 2.7315
06/06/2025
