“Society and banks” released a statement regarding the imposition of sanctions on the Russian “VTBBank” by the U.S. and the EU.
U.S. and the European Union’s sanctions against theRussian “VTB bank” will not have a direct influence on Georgian consumers because “ VTB” branch in Georgia is an independent financial and legal unit. It has its own capital, which has been recentlyincreased by “VTB” shareholders.
“Society and Banks” believes that at this stage the bank’s Georgian users have no reason to panic and can calmly continue to collaborate with the bank.
It should be noted, however, that in future sanctions may have some impact on the largest Russian bank’s branch because U.S. and European intermediary banks can impose some restrictions on international transfers.