The Bank of Georgia has banned Russians from buying goods more expensive than €300

The Bank of Georgia (the Bank of Georgia) has imposed restrictions on the purchase by Russian citizens of goods over €300 when paying with financial institution cards. This was reported on May 22 by the TASS news agency with reference to the bank's press service.

It is noted that this decision was made in accordance with the financial institution's obligation to comply with international sanctions.

"The Bank of Georgia has complied and is complying with the requirements of the sanctions imposed by the United States, the European Union (EU) and the United Kingdom," the publication says.

Forward to the past: foreign banks may reconsider their decision to leave the Russian Federation

Why it is beneficial for foreigners to keep the Russian business

On March 27, US Treasury Secretary Scott Bessent said that the United States admits the possibility of restoring Russian banks' access to the SWIFT international system. He noted that the decision will depend on the settlement of the Ukrainian conflict.