The National Bank of Georgia [NBG] is responding to the imposition of sanctions against the company "Inter RAO" under the European Union`s 21st package of sanctions against Russia.

According to the NBG’s statement, the aforementioned company is an indirect owner of JSC "Telasi". At the same time, JSC "Telasi" itself is not included in the list of sanctioned entities and constitutes a critically important service provider whose uninterrupted operation is essential for the population and the economy.

"Taking into account the requirements of international sanctions, the NBG, within its competence, ensures the implementation of appropriate approaches so that, on the one hand, the requirements of the sanctions are complied with, and on the other hand, the continuity of critically important services is maintained.

Furthermore, when assessing sanctions-related issues, specific circumstances are taken into account, including the nature and purpose of the operations to be carried out. Consequently, banks will continue to service JSC "Telasi" in the national currency, in accordance with the requirements of the active sanctions, NBG regulations, their own policies, as well as risk assessment approaches", - reads the statement.