Georgia's richest man said to be moving funds to avoid sanctions

Published On Feb 19, 2025, 7:05 PM

The article discusses the US sanctions against Bidzina Ivanishvili, the richest man in Georgia and founder of the ruling party, Georgian Dream. These sanctions aim to freeze his assets amid ongoing political unrest in Georgia, including protests against what many see as increasing Russian influence and governmental control. The Georgian government continues to defend Ivanishvili, who is accused of using offshore accounts to manage his wealth. Although there are significant foreign investments, like the $6 billion deal with UAE’s Emaar, experts warn that the country faces a challenging economic and political environment, predicting zero economic growth and negative foreign direct investments due to instability and uncertainties around EU membership discussions.