China hosts largest ever SCO summit as South Caucasus draws attention
The 25th Shanghai Cooperation Organization summit began in Tianjin on 31 August, marking the largest gathering in the bloc’s history, with China dee...
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.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
The 25th Shanghai Cooperation Organization summit began in Tianjin on 31 August, marking the largest gathering in the bloc’s history, with China deepening ties with Azerbaijan, Armenia and wider South Caucasus.
President Ilham Aliyev held a series of strategic meetings with senior executives from leading Chinese industrial corporations in Tianjin on 31 August.
Israeli forces struck Gaza City’s outskirts overnight with air and ground fire, destroying homes and prompting further civilian displacement. Prime Minister Benjamin Netanyahu’s security cabinet was scheduled on Sunday to discuss a plan for a wider operation to take control of the city.
The Shanghai Cooperation Organisation (SCO) summit opened in Tianjin on 31 August, gathering leaders from across Eurasia and the Global South.
Ilham Aliyev, President of the Republic of Azerbaijan, held a meeting with Xi Jinping, President of the People's Republic of China, on August 31 in Tianjin, China.
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