Bidzina Ivanishvili, Georgia’s wealthiest individual and former prime minister, is suspected of transferring assets to Georgia to avoid U.S. sanctions. Transparency International (TI) Georgia claims recent tax code amendments, which allow tax-free asset transfers from offshore accounts, were tailored to benefit Ivanishvili.
With an estimated fortune of $4.9 billion, largely held in offshore accounts, Ivanishvili has faced growing scrutiny. The U.S. imposed sanctions on him in response to Georgia’s political crackdown, including the suspension of EU accession talks and violent suppression of protests. TI Georgia suggests he is shifting company ownership from offshore entities to domestic firms. The UK may also sanction him, which could affect his businesses linked to British Overseas Territories.
In January, nearly $500 million worth of artwork entered Georgia, allegedly from Ivanishvili’s collection, raising further concerns.
Georgia’s ruling party, Georgian Dream, has defended Ivanishvili, calling the threat of sanctions "without foundation" and crediting him for the country's "democratic breakthrough." The head of Georgia’s parliamentary finance committee, Paata Kvijinadze, justified the tax changes, stating they were intended to attract investment.
Ivanishvili has also sued Swiss bank Julius Baer, alleging it misinterpreted U.S. sanctions. His long-running disputes with Credit Suisse over financial mismanagement have reportedly fuelled his distrust of Western institutions.
Experts warn that Georgia’s economy faces significant risks due to ongoing political instability and international isolation. While the government highlights a recent $6 billion investment deal with the UAE as a sign of economic resilience, analysts predict stagnation and growing fiscal challenges.
Georgia’s State Security Service has dismissed a U.S. Embassy warning about a bomb threat at Tbilisi malls as false, criticizing the embassy for issuing the alert without coordination and urging more responsible diplomatic communication.
The US Embassy in Georgia has cautioned American citizens about potential security threats at several major shopping malls in Tbilisi, though Georgian officials have refuted the claims as unfounded.
The US House has passed the MEGOBARI Act, a bipartisan bill promoting democracy in Georgia and proposing sanctions on officials. As it heads to the Senate, Tbilisi pushes back, warning it could strain US-Georgia ties amid calls to reset relations.
The U.S. House will debate the MEGOBARI Act, a bipartisan bill proposing sanctions on Georgian officials and offering aid if Tbilisi shifts from anti-Western policies, following Georgia’s adoption of a controversial foreign agents law.
Georgian President Mikheil Kavelashvili expressed hope that Armenia and Azerbaijan will sign a peace agreement in the near future, contributing to the positive development dynamics of the South Caucasus region.
A helicopter crash in Sri Lanka has resulted in six fatalities, according to military sources cited by AFP on Friday.
President Donald Trump and U.K. Prime Minister Keir Starmer have reached a trade agreement that lowers U.S. tariffs on British autos, steel, and aluminum, while maintaining a 10% baseline tariff on other goods and boosting American exports of beef and ethanol.
Start your day informed with AnewZ Morning Brief: here are the top news stories for May 9th , covering the latest developments you need to know.
Italians gather to honour all who resisted fascism — including the forgotten Azerbaijani soldiers of Monte di Nese, each year. Their names may be lost, but their struggle for freedom is etched into the memory of this land.
Britain's King Charles has called on the world to work toward lasting peace and preventing future wars during a speech marking the end of four days of events celebrating the 80th anniversary of Victory in Europe (VE) Day.
India has fired a series of missiles into Pakistani-controlled territory, in what it has described as “Operation Sindoor”
For the first time in history, an American has been chosen to lead the Catholic Church, as Cardinal Robert Prevost is named pope.
Discover every major VE Day 80 event in Britain, 5‑8 May 2025—from London’s parade and fly‑past to street parties, concerts and museum exhibitions.
Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
Cardinals from 70 nations have gathered in Vatican City to begin the historic conclave to elect the next pope, following the death of Pope Francis 17 days ago. This conclave is the most geographically diverse in Church history, showcasing Francis’ legacy of inclusivity.
Armenia has officially approved joining the Ashgabat Agreement, aiming to enhance its regional transit role and secure broader access to international markets through a key transport and transit corridor spanning Central and South Asia.
Turkmenistan will host the next session of the High-Level Working Group on the Caspian Sea, following constructive discussions in Moscow among the five littoral states on maritime cooperation and legal frameworks.
President of Azerbaijan Ilham Aliyev, in a message to participants of the 28th Eurasian Economic Summit, praised the strong Azerbaijani–Turkish partnership and reaffirmed Azerbaijan’s commitment to promoting peace, tolerance, and interfaith harmony.
Kazakhstan’s Senate has approved a key agreement with the UAE to develop a 1 GW wind power station in the Zhambyl region, with plans to enhance renewable energy production and storage capacity. The project will create thousands of jobs and attract significant investments.
The US Embassy in Georgia has cautioned American citizens about potential security threats at several major shopping malls in Tbilisi, though Georgian officials have refuted the claims as unfounded.
A helicopter crash in Sri Lanka has resulted in six fatalities, according to military sources cited by AFP on Friday.
President Donald Trump and U.K. Prime Minister Keir Starmer have reached a trade agreement that lowers U.S. tariffs on British autos, steel, and aluminum, while maintaining a 10% baseline tariff on other goods and boosting American exports of beef and ethanol.
Start your day informed with AnewZ Morning Brief: here are the top news stories for May 9th , covering the latest developments you need to know.
Italians gather to honour all who resisted fascism — including the forgotten Azerbaijani soldiers of Monte di Nese, each year. Their names may be lost, but their struggle for freedom is etched into the memory of this land.
Britain's King Charles has called on the world to work toward lasting peace and preventing future wars during a speech marking the end of four days of events celebrating the 80th anniversary of Victory in Europe (VE) Day.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment