CCDS held the conference "US and EU Sanctions Against Russia: Impact and Implementation Challenges for Georgia" on 17-19 April 2024 in Tbilisi as part of a project supported by CRDF Global. The meeting brought together some 50 participants representing the academia, industry and finance sector.
 
On the fisrst day, participants discussed the sanctions imposed by the West against Russia and the challenges Georgia faces in this context. The second session on the same day reviewed the political impact of Russia's war in Ukraine on Western sanctions. Participants emphasized the importance of enforcing sanctions to weaken Russia's military capabilities. The second day began with a session dedicated to the consequences of Russia's invasion in Ukraine and, in particular, its impact on the South Caucasus region. The session underscored the need for regional unity against Russian pressure and the importance of upholding sanctions to protect Ukraine’s national sovereignty. At the final session, representatives of the banking and business sectors shared their practical experience and best practice in enforcing sanctions.  
 
Key takeaways from the conference highlighted certain issues that would help the Georgian industry and finance sectors to navigate the complex geopolitical landscape. These included the importance of economic diversification, the need for stronger Western partnerships, and rigorous adherence to the sanctions.