Georgia sees surge in art imports in January 2025, likely linked to Ivanishvili’s sanctions evasion
Art imports to Georgia and Ivanishvili
According to preliminary data from Georgia’s National Statistics Office, the import of paintings into Georgia increased in January 2025. Overall, the country’s foreign trade turnover (excluding undeclared trade) was 39.3% higher than during the same period in 2024.
Exports reached $403.9 million, marking a 19.3% increase, while imports totaled $1.604 billion, rising by 45.5%.
Georgia’s trade partners and Ivanishvili’s art imports
According to Georgia’s National Statistics Office, in January 2025, the top ten export partners accounted for 76.7% of the country’s total exports. The three largest export destinations were Kyrgyzstan ($74.9 million), Azerbaijan ($46.2 million), and Kazakhstan ($45.2 million).
The share of CIS countries in Georgia’s exports stood at 64.2%, while EU countries accounted for 13.2%, and other countries 22.6%.
For imports, the CIS share was 17.6%, EU countries 16.3%, and other countries 66.1%.
The top ten trading partners accounted for 75.4% of Georgia’s total foreign trade turnover in January 2025. The United States ($361.7 million), the United Kingdom ($267.2 million), and Russia ($203.3 million) emerged as Georgia’s largest trade partners.
Suspicious surge in art imports linked to Ivanishvili
Notably, according to January 2025 export-import data published by the Ministry of Finance, Georgia imported $480,658,330 worth of paintings. Politicians and experts suggest that these artworks were brought into the country by Bidzina Ivanishvili, who is under U.S. sanctions, taking advantage of Georgia’s so-called “offshore law.”
In April 2024, the Georgian Parliament passed a third-reading bill that exempts offshore asset transfers to Georgia from taxation until 2028. Analysts believe this legislation was primarily introduced in response to Western sanctions against Ivanishvili.
Giorgi Bachiashvili, former head of Ivanishvili’s Co-Investment Fund, claims that the reported $480.7 million is an undervalued estimate and that Ivanishvili likely imported an art collection worth over $1 billion.
According to Bachiashvili, the total VAT, property, and other taxes on such a collection would amount to $300–400 million, which Ivanishvili avoided paying thanks to the offshore tax exemption approved by Parliament.
Art imports to Georgia and Ivanishvili
