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.
Georgian Prime Minister Irakli Kobakhidze hosted his Armenian counterpart, Nikol Pashinyan, during his visit to Tbilisi, as both leaders underscored the strategic partnership and positive trajectory in bilateral relations between their countries.
Bulgaria can play a key role in the development of the Green Energy Corridor project, - said Energy Minister, Zhecho Stankov, at the 10th ministerial meeting in connection with the strategic partnership agreement for the development and transmission of green energy.
The Swedish Government has instructed Sida, the Swedish International Development Cooperation Agency, to stop all cooperation with Georgia in response to "the serious deterioration of the democratic situation" in the country.
Wisconsin Attorney General Josh Kaul has filed a lawsuit to stop Elon Musk from giving $2 million to voters ahead of the state’s Supreme Court election, calling it a violation of state election laws.
Severe storms have brought deadly floods to the Texas–Mexico border, killing at least four people and forcing hundreds into shelters.
M23 rebel leaders have arrived in Qatar for further talks with mediators, following an earlier meeting between the presidents of DRC and Rwanda.
Elon Musk’s xAI has acquired his social media platform X in a $33 billion all-stock deal.
Russian President Vladimir Putin has suggested placing Ukraine under temporary UN administration before negotiations on a peace deal can begin.
Royal Australian Air Force (RAAF) pilots, monitoring a Chinese navy warship as it navigated Australian waters, were alerted to a live-fire exercise via a civilian radio broadcast, defense officials revealed on Tuesday.
As the world shifts toward clean energy at an ever-accelerating pace, large economies are scrambling to secure reliable supply chains for rare earth minerals. These minerals, once seen as mere industrial components, have become a political tool in the global power struggle
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
A devastating overnight drone attack on Kyiv, attributed to Russian forces, resulted in the deaths of three people, including a five-year-old child, and left ten others injured.
The Trump administration is importing eggs from Türkiye and South Korea to address shortages and record-high prices caused by a severe bird flu outbreak.
As the world shifts toward clean energy at an ever-accelerating pace, large economies are scrambling to secure reliable supply chains for rare earth minerals. These minerals, once seen as mere industrial components, have become a political tool in the global power struggle
The Ministry of Foreign Affairs of Armenia hosted the presentation of the Armenian translation of the book by Iran's Foreign Minister Seyed Abbas Araqchi, titled "The Power of Negotiations: Principles and Rules of Political and Diplomatic Negotiations."
Armenian Parliament Speaker Alen Simonyan stated on Tuesday that there are no expected changes in Armenia’s relations with the Collective Security Treaty Organization (CSTO), despite ongoing discussions regarding the country’s stance on the military alliance.
Armenian Prime Minister Nikol Pashinyan has met with a delegation led by Iranian Foreign Minister Seyed Abbas Araghchi, who is in Yerevan on an official visit.
Wisconsin Attorney General Josh Kaul has filed a lawsuit to stop Elon Musk from giving $2 million to voters ahead of the state’s Supreme Court election, calling it a violation of state election laws.
Severe storms have brought deadly floods to the Texas–Mexico border, killing at least four people and forcing hundreds into shelters.
M23 rebel leaders have arrived in Qatar for further talks with mediators, following an earlier meeting between the presidents of DRC and Rwanda.
Elon Musk’s xAI has acquired his social media platform X in a $33 billion all-stock deal.
Russian President Vladimir Putin has suggested placing Ukraine under temporary UN administration before negotiations on a peace deal can begin.
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