UK sanctions may target over 95 companies linked to Ivanishvili family

UK sanctions Ivanishvili-linked companies

According to Transparency International Georgia (TI), if the UK imposes sanctions on Bidzina Ivanishvili, the founder and honorary chairman of the Georgian Dream party, and his close relatives, it would affect nearly the entire business empire of the Ivanishvili family. This is because these companies are ultimately registered in UK offshore zones, specifically the British Virgin Islands and the Cayman Islands.

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More than a hundred Georgian citizens are already included in Western sanctions lists.

The potential sanctions target more than 95 companies owned by the Ivanishvili family, including:

● Cartu Bank
● Cartu Foundation
● Galleria Tbilisi shopping mall
● Tourism Development Fund, which also owns several hotels across the country
● Aqua Space LLC, a Russian company managing Ivanishvili’s Moscow residences

and more.

Transparency International notes that UK financial sanctions include asset freezes and the suspension of access to financial services, resources, and markets.

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Background

On January 13, UK Liberal Democrat MP James McCleary proposed imposing sanctions on Bidzina Ivanishvili in the House of Commons.

The proposal cites several reasons: Georgian Dream’s suspension of Georgia‘s EU membership process, excessive use of force against peaceful protesters, undermining democracy, and facilitating Russian influence in Georgia.

The sanctions already imposed on Bidzina Ivanishvili by the United States also played a significant role in this decision.

The proposal further calls on the UK to reassess its strategic partnership with Georgia and coordinate more closely with EU partners to counter Russian interference.

In response, the Georgian Dream political council stated that imposing sanctions on Bidzina Ivanishvili would clearly demonstrate that the UK has been “reduced to the level of Ukraine, Lithuania, Estonia, and the European Parliament.”

The council expressed outrage that “the leader of the ruling party, who liberated Georgia from authoritarian rule and brought democratic reforms to the country, is being threatened with sanctions without any grounds.”

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