The National Bank of Georgiasaid three Georgian companies sanctioned by the UK over alleged involvement in helping Russia circumvent sanctions do not fall under the regulator’s supervision.
The bank explained that the companies operated without registration and, as a result, the National Bank had no supervisory authority over them.
The National Bank also said that when it identifies unauthorised activity, it cooperates with law enforcement agencies and has already provided relevant information in this specific case.
According to the National Bank, in September 2025 it provided law enforcement agencies with information on organisations operating without registration and “applied appropriate supervisory measures”.
The bank also says that, based on information available to it, investigations into these cases are ongoing and that authorities have established responsibility in some instances.
In its statement, the National Bank stresses that Georgia’s regulatory framework for virtual asset service providers complies with international standards.
The regulator also refers to a 2024 assessment by the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures, which found that Georgia is “largely compliant” with FATF Recommendation 15 (meaning the recommendation has been substantially implemented, with only minor or moderate shortcomings — JAMnews).
According to the National Bank, the UK and France have received the same assessment.
The National Bank of Georgia issued its statement after the UK expanded its sanctions against Russia and added three Georgian companies to the list.
The British government said the new package of measures aims to restrict cryptocurrency networks and shadow financial systems that Moscow uses to circumvent international sanctions.
Among the sanctioned entities is Tbilisi-registered AIFORY LLC, which the UK government accuses of supporting Russia’s financial sector. The sanctions will restrict the company’s banking operations and payment processing.
According to business registry records, Giorgi Nutsubidze registered the company in June 2023. Its legal address is in the Tbilisi Free Industrial Zone on Omar Khizanishvili Street.
Authorities registered ARVIX LLC at the same address. According to the UK government, the company had links to Russian cryptocurrency exchanges Garantex and Grinex.
Under the sanctions, ARVIX will face restrictions related to internet services. Business registry records show that Davit Nutsubidze founded the company in October 2023.
The sanctions list also includes RAPIRA GROUP LLC, which London says provided financial services to the Russian government, thereby undermining Ukraine’s territorial integrity.
The company is registered in Kutaisi, and Ilya Akhaev is listed as its founder. Under the UK government’s decision, the company will face restrictions on banking operations and payment processing.
The U.S. military has drawn up a new list of potential targets in Iran in the event that Washington decides to resume military operations, AzerNEWS reports.
The price of Azerbaijan’s “Azeri Light” crude oil at Italy’s Augusta port under CIF conditions has fallen by $3.57, or 3.24%, compared to the previous figure, reaching $106.48 per barrel.
Armenia and the United States initialled a framework agreement on strategic cooperation around the TRIPP project (Trump Route for International Peace and Prosperity). The initiative envisions a transport route linking Azerbaijan with its exclave of Nakhchivan while also contributing to the unblocking of transport links across the wider region. The signing took place during Marco Rubio’s visit to Yerevan, where he arrived together with his wife.
“It is a pleasure to be here to continue advancing the concept and vision of President Trump and Prime Minister Pashinyan — this bold path towards peace in the South Caucasus,” the US secretary of state said. He also recalled that the foundations for the peace process had been laid during the Washington summit on 8 August 2025.
Marco Rubio and Armenian Foreign Minister Ararat Mirzoyan also signed two additional documents:
a charter “On Comprehensive Strategic Partnership between Armenia and the United States”;
a framework memorandum “On Securing Supply Chains in the Extraction and Processing of Critical Minerals and Rare Earth Elements”.
Following the signing ceremony, the two officials delivered statements to the press.
Ararat Mirzoyan stressed that Armenia-US strategic partnership had reached a new level. According to him, the agreements reached are “clearly beneficial for Armenia and will open unprecedented opportunities”. He added that relations between Armenia and the United States are now stronger than ever before.
The Armenian foreign minister also thanked the US secretary of state for “finding time in his busy schedule” to visit Armenia.
“This highly substantive visit demonstrates the unwavering commitment of both Yerevan and Washington to consistently strengthening our bilateral ties,” he said.
Expanded-format Rubio-Mirzoyan talks, the signing ceremony and the press briefing all took place directly at Zvartnots International Airport. Roughly an hour after arriving in Yerevan, the US secretary of state’s visit concluded.
After seeing off his counterpart, Ararat Mirzoyan continued speaking to journalists during a separate press conference, where he outlined further details of the signed agreements.
Marco Rubio: “Our cooperation is not limited to TRIPP”
The US secretary of state made the following statements:
US-Armenia cooperation is not limited to the Trump Route project. The two sides continue to expand cooperation across multiple areas.
The Comprehensive Strategic Partnership Charter defines the framework for bilateral relations and charts a new path that will benefit both Armenians and Americans.
Both countries should see the benefits of their deepening ties. A partnership becomes strategic when the sides share a vision for the future and can help one another achieve it.
The extraction and processing of minerals are essential for future prosperity. Countries capable of developing these sectors will be able to achieve economic independence and position themselves at the centre of 21st-century innovation.
The United States and Armenia can work together to ensure that both countries and both economies have secure access to critical minerals.
Key Takeaways from Ararat Mirzoyan’s Press Conference
TRIPP agreement to be signed within weeks
The Armenian foreign minister said that all three signed documents were “equally important”. However, he stressed that progress on the agreement related to the implementation of the TRIPP project had long been anticipated.
“The initialling will very soon lead to the signing stage. The text has been fully agreed, and there is political understanding and consensus. There are simply technical procedures that still need to be completed in both countries.”
He explained that there are also other documents linked to the Trump Route project that are not yet ready. In particular, work on the charter has not yet been finalised.
Mirzoyan said he expects all outstanding issues to be resolved within several weeks, after which the agreement will be signed and work on the ground will begin.
“Both the US administration and the Armenian government are working intensively on this project. They attach great importance to the implementation of TRIPP, even amid the current geopolitical, regional and highly active domestic political environment. And this is happening against the backdrop of speculation that the United States has supposedly lost interest in the project.”
Involvement of Russia, Iran and other countries in TRIPP
Journalists asked whether concerns and dissatisfaction in Moscow and Tehran could hinder the implementation of the Trump Route project. The Armenian foreign minister replied that the government in Yerevan was familiar both with the official positions of those countries and with expert assessments.
He stressed that officials in Iran had previously expressed concerns about the project’s “security component”. However, according to him, those concerns faded after the relevant documents were published. He added that any remaining questions could also be addressed once the documents are reviewed.
“In any case, questions may arise, they will read the documents and see that there are no grounds for concern.”
According to Ararat Mirzoyan, the Trump Route would also create new opportunities for both Russia and Iran.
“Through TRIPP, Iran, for example, will be able to gain access to the Black Sea. In effect, a new railway connection is being created from the Persian Gulf to the Black Sea.”
He also said that other countries had shown interest in the Trump Route initiative. Mirzoyan reminded journalists that it is an Armenian-American project. However, he noted that cooperation with third parties would be possible on separate components, including power transmission lines, pipelines and other infrastructure.
According to the minister, preliminary talks with partners from various countries are already under way, although he did not specify which countries were involved.
According to Ararat Mirzoyan, cooperation with the United States in the field of critical minerals and rare earth elements represents a new direction in bilateral relations.
“Some rare metals are extremely important for the production of highly specialised goods such as chips and semiconductors. We are now essentially trying to connect the existing areas of cooperation with this new direction.”
He recalled that Armenia and the United States had already begun cooperation in the fields of artificial intelligence, semiconductors and energy.
The minister noted that there is growing global interest in rare mineral supply chains and said Armenia now has an opportunity to become one of the key hubs within these logistics routes.
Mirzoyan also said there are already preliminary outlines regarding investments in the sector and the types of minerals involved. He promised that “very concrete manifestations” of the agreements reached would emerge in the near future.
Armenia’s opposition and some analysts argued that the US secretary of state’s visit ahead of the country’s upcoming elections amounted to support for the ruling party and its leader, Nikol Pashinyan.
Their claims were reinforced by remarks Rubio made in Yerevan while addressing Armenian Foreign Minister Ararat Mirzoyan:
“You, the prime minister and the entire team are charting a path towards a brighter and more independent future for Armenia. And we are pleased to express our support for this vision, this courage, your dedication and willingness to work for the country’s future. We are proud to be part of all this, and we are ready to do more together.”
Responding to questions about whether the visit was intended as political backing, Mirzoyan told journalists that anyone who believed Rubio’s visit was needed to boost the ruling party’s ratings was “detached from reality”.
“Our ratings are sufficiently high. We have direct dialogue with the citizens of Armenia. And I can say even more: we see very strong and very clear public support for the peace agenda we are pursuing, for democratisation and for strengthening sovereignty,” he said.
Political analyst NarekMinasyancommented in particular on the Charter on Comprehensive Strategic Partnership between Armenia and the United States. In his view, the document demonstrates that the partnership is “moving to a qualitatively new level”.
The analyst highlighted several key points:
while the 2025 document defined the general scope of cooperation, the new agreement establishes its institutional and programmatic architecture;
the foundation of the comprehensive strategic partnership is primarily based on interests and benefits rather than values — something he described as typical of the administration of Donald Trump;
TRIPP is becoming the infrastructural backbone of bilateral cooperation;
bilateral relations are shifting from a “donor-beneficiary” model to a new partnership-based framework;
the economic agenda is increasingly focused on high-tech and strategic sectors, with Armenia now viewed as part of US supply chains;
the agreements create new opportunities for Armenia to diversify across multiple направления.
According to Azerbaijan’s Foreign Ministry, the meeting focused on the current agenda of cooperation between Azerbaijan and the United Nations, as well as the latest developments in the region.
