National Bank of Georgia plunged into turmoil over US sanctions

Central bank says enforcing sanctions on a Georgian citizen would violate constitution

Natia Turnava
Natia Turnava
National Bank of Georgia

The National Bank of Georgia (NBG) was plunged into turmoil this week after refusing to enforce US sanctions on a Georgian citizen, businessman Otar Partskhaladze.

The refusal split the central bank’s board and triggered the resignations of three vice-governors, while provoking an irate response from the US State Department and Georgian politicians.

The US unveiled several new sanctions against Russian firms and individuals on September 14, including Partskhaladze, who holds Russian and

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