The News in Brief

Finance Ministry Investigates UK Sanctioned Companies, Sentences Organizer

The Investigative Service of the Ministry of Finance of Georgia announced it has investigated three companies recently sanctioned by the United Kingdom (LLC Aifori, LLC Arvix, and LLC Rapira Group), revealing that none conducted actual business activities within Georgia.

The investigation established that LLC Aifori and LLC Arvix were fictitiously registered under surrogate names in exchange for compensation, while actually operating in Moscow with no local assets. On April 28, 2026, a court sentenced three defendants to suspended sentences and 30,000 GEL fines, while the organizer, Davit Jintcharadze, received 9 years and 6 months in prison.

Similarly, LLC Rapira Group was registered via power of attorney by a British citizen but operated exclusively for Russian citizens through a website using a Russian registrar. It maintained no offices, assets, or bank turnover in Georgia.

"The Investigative Service of the Ministry of Finance of Georgia, in coordination with international partners, continues active efforts to combat financial and cybercrime, as well as to prevent and suppress any attempts to circumvent international sanctions," the agency stated.



National Bank Chief Dismisses Financial Inflow Risks, Points to Infrastructure Growth

Natia Turnava, the President of the National Bank of Georgia, stated during a parliamentary plenary session that she sees no risk of a halt in international transactions, emphasizing that foreign currency inflows continue to expand despite regional shocks.

Turnava addressed the issue while presenting the central bank's annual report. Her comments came in response to a question from MP Malkhaz Toria of the For Georgia faction, who questioned whether the country's economic growth is temporary and asked if Georgia has a sustainable foundation should the regional political climate shift and trigger a sudden halt in financial inflows.

Turnava rejected concerns over a potential financial freeze, pointing to the structural openness of the domestic market as a key stabilizer. She noted that the current business model remains resilient due to its open stance toward both bilateral and multilateral trade relations.

"We do not see any risk that international transactions will be stopped," Turnava said. "Investments are increasing, as well as other types of inflows. By the way, this is why we have the ability to increase reserves. Foreign currency inflows are only growing despite all shocks."

To accommodate this growth, Turnava explained that the central bank is actively upgrading its domestic financial networks to ensure domestic and cross border wire transfers remain convenient and secure.

As part of these upgrades, the National Bank has introduced several infrastructure projects, including the rollout of an instant payments system designed to accelerate processing speeds. Turnava stated that the central bank expects the new system to directly reduce transfer fees for consumers, reinforcing her position that the country's financial architecture is safe from sudden external disruptions.