Will Russia Stop Money Transfers To Georgia?

One of sanctions Russia could impose on Georgia is to suspend money transfers. Many Georgian citizens living in Russia, and Russian citizens of Georgian origin, send money to Georgia to support their families and relatives financially.

Two years ago, when Russia imposed an economic embargo on Georgian products, a money transfer ban was also considered. But due to technical difficulties it was not imposed at that time.

The Georgian National Bank says that, at the moment, money transfers to and from Russia are still conducted in the usual way. Experts think however that if Russia stops money transfers this would be a declaration of financial war. It will be very difficult to implement such a ban for technical reasons, and it will damage the Russian banking system too.

Most probably Georgians working in Russia will soon begin to experience problems with finding suitable jobs and accommodation, as a result of anti-Georgian propaganda which will create a negative climate for Georgians in the Russian Federation.