Georgia’s richest man said to be moving funds to avoid sanctions

Last spring, when tens of thousands of Georgians were protesting against what they saw as a clear sign of Russian influence on the country’s politics, Georgia’s parliament rushed through amendments to the nation’s tax code.

Transparency International (TI) Georgia, the anti-corruption watchdog, wrote at the time that the change – which allows tax-free transfer of assets from offshore accounts to Georgia – may have been introduced to serve the interests of the country’s richest person and former prime minister, Bidzina Ivanishvili.

He is the founder and honorary chairman of the country’s ruling party, Georgian Dream.

“Now it is clear, those changes were made for him,” says senior economics analyst at TI Georgia, Beso Namchavadze.