Georgia Bank Restricts Purchases for Russian Citizens Amid Sanctions

Georgia's Bank of Georgia restricts purchases for Russian citizens, limiting luxury goods spending to under €300 due to international sanctions. The bank claims this is a regulatory mandate, not an independent decision. This move reflects the ongoing impact of sanctions on Russian consumers and businesses operating in Georgia. A spokesperson for Bank of Georgia stated, "This is not our initiative, but a requirement from the regulatory body." The restrictions are automatically applied based on merchant codes, affecting purchases of luxury items globally. The impact of this measure on Georgian businesses and the broader economic relationship between Russia and Georgia remains to be seen. This situation highlights the ripple effects of international sanctions and their impact on financial institutions and consumers.