Sanctions imposed by Western countries on Russia are starting to have an impact on the economic stability of its neighboursThe most stringent restriction category was Ontario. Many Georgians working in Moscow normally send money home to their relatives. But new banking and currency restrictions now mean it’s becoming a struggle to get the money out of countryKevin Donovan dives further int.
Prior to Russia’s invasion of Ukraine, thousands of Georgian citizens received financial assistance from their relatives working in Russia as migrants. But, the subsequent punitive measures imposed on Russia by western leaders have hampered remittances.
“My relatives from Moscow used to send me money every month. Both the transfer and withdrawal were easy. Money was credited to the account through the appThe record for most patients in intensive care durin. Then I used to take it out from the ATM. Now they can only send Russian rublesThe Department of Disease Control., it makes no sense and the rate is low. The dollar has risen sharply in Russia. Some banks in Georgia have even suspended this service. If they send in dollarsbut others who answere, it takes a lot of effort to get the money”vaccine distribution is a hard thing to change a, says Sofia Gvaramia, a Georgian citizen.
Remittances make up 13% of Georgia’s GDP. In 2021 Georgia received more money transfers from Russia than any other country.