Europe has frozen 30 million euros of Georgian assets

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Europe has frozen 30 million euros of Georgian assets

Europe has frozen 30 million euros of Georgia’s assets

Pawel Herczynski, the European Union representative in Georgia, said at a ceremony in Tbilisi on Tuesday, July 9, 2023, that the 30 million euros we had earmarked for transfer to the Georgian Ministry of Defense have been frozen, and this is just the beginning.

This decision is a direct result of the cooling of relations between Georgia and the European Union following the adoption of the foreign agents law in June. The United States also postponed military exercises with the Georgian army indefinitely last week.

In December, Georgia was officially recognized as a candidate for EU membership, but the EU has repeatedly stated that Tbilisi’s current policies mean that the country’s membership application is effectively on hold. Herczynski added on Tuesday that he doubts the EU will begin membership negotiations with Georgia this year, saying that the country’s accession process is in suspension.

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