Russia's VTB Bank stops foreign currency transactions in Georgia
Date
2/25/2022 7:31:09 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, Feb. 25
By Maryana Akhmedova – Trend:
The National bank of Georgia (NBG) restricted foreign currency
transactions by the VTB Bank Georgia, due to the financial
sanctions imposed by the US, the EU, the UK, and other countries on
Russia's VTB Bank Group, Trend reports via the NBG.
“Our task is to protect the interests of the bank depositors,
the citizens of Georgia, and to take care of the stability of the
country's financial system, taking into account the fulfillment of
the conditions of sanctions,” the NBG's statement said.
The NBG is intensively monitoring the events and is ready, if
necessary, to protect the interests of the bank's depositors by
using international standards and instruments provided by law, the
statement said.
Earlier, the NBG announced that VTB Bank Georgia is solvent,
depositors' interests are protected, and if additional liquidity is
needed, they are ready to provide the bank with appropriate
financial resources.
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