Immediately after US sanctions on Georgian oligarch Ivanishvili, his son registered a new company
Ivanishvili’s son has registered a new company
Uta Ivanishvili, the eldest son of oligarch Bidzina Ivanishvili, widely regarded as the shadow ruler of Georgia, registered a new company in his name just four days after the United States imposed sanctions on his father on December 27, 2024, according to the Georgian service of Radio Free Europe/Radio Liberty.
The new joint-stock company, “ATU Holding,” is entirely owned by Uta Ivanishvili. The company’s director is Bidzina Ivanishvili’s nephew, Kaha Kobiashvili.
According to Transparency International – Georgia, Kaha Kobiashvili serves as the official representative of Ivanishvili’s offshore companies in Georgia.
According to the aforementioned documentation, Nato Khaindrava represented Uta Ivanishvili during the company’s registration. On December 30, 2024, notary Ekaterine Gvantseladze issued a power of attorney on behalf of Uta Ivanishvili to Khaindrava.
According to the documentation submitted to the state registry, the authorized capital of the new company amounts to 100 million lari (approximately $35 million). The actual authorized capital (currently held by the company) stands at 100,000 lari (around $35,000), while the paid-in capital (formed by shareholders’ partial or full payment for their purchased shares) totals 25,000 lari (approximately $9,000).
The members of the company’s supervisory board are Archil Mamatsashvili, Rostom Chabradze, and Besik Demetrashvili. According to Radio Free Europe, all three are sponsors of the “Georgian Dream” party.
Sanctions imposed on Georgian Dream members
The Georgian Dream government faces a severe crisis both domestically and internationally, with mass protests ongoing for 50 days over the country’s deviation from its constitutionally declared path of EU integration.
● The United States imposed financial sanctions on Bidzina Ivanishvili, the informal ruler of Georgia. His name appears on the OFAC list as part of sanctions against Russia. Under these sanctions, all assets owned or controlled by Ivanishvili in the US, including those involving US citizens, are frozen.
● Over 110 Georgian Dream officials and their family members are now barred from entering the US, affecting several hundred Georgian citizens in total.
● Hundreds of individuals holding Georgian diplomatic passports are barred from entering the European Union with these passports.
● Six Georgian nationals, including four high-ranking officials, have been added to the Magnitsky List, leading to strict financial sanctions that freeze all their assets, shares, and financial accounts.
● Over 40 individuals are sanctioned by Baltic states, while 19 are under personal sanctions by Ukraine, 5 by the UK, and 9 by Germany.
● Some officials, including Interior Minister and Deputy Prime Minister Vakhtang Gomelauri, face sanctions from all these countries and are also on the Magnitsky List.
The sanctions signify increasing international pressure on Georgian Dream amidst ongoing protests and criticism of its governance.
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