Georgian PM suggests US policies under previous administration, including sanctions policy, will be “radically” reconsidered

Georgian Prime Minister Irakli Kobakhidze on Monday suggested that the approaches established under the previous US administration would be “radically reconsidered”, a shift he believes will include sanctions policy.

Kobakhidze’s remarks came after the US President Donald Trump signed an executive order requiring the banking industry to ensure it is not refusing financial services to anyone based on political or religious beliefs, a practice frequently described as “debanking”.

In his remarks, the PM noted that the United States needed to restore trust in the American banking system, as well as in the international banking system.

"In general, the policy that was pursued under the previous administration poses a threat to the credibility of the banking system. Therefore, the fact that the Trump administration is revising this approach is absolutely logical. The US needs to restore trust in the American banking system, as well as in the international banking system, and thus, what they are talking about is completely logical”, Kobakhidze said.

“I believe that the approaches established under the previous administration will be radically reconsidered - including the sanctions policy. That is our assumption”, he concluded.