Georgia to pay $94m to Russian Inter RAO, opposition figure Gotsiridze warns of further $450m liabilities

Gotsiridze directly blamed former Energy Minister and the ruling Georgian Dream Tbilisi mayoral candidate Kakha Kaladze for signing a contract with Inter RAO that he described as damaging to the country’s interests

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Front News Georgia
Georgia faces nearly $540 million in payouts following a series of international arbitration rulings, opposition politician Roman Gotsiridze, former head of the National Bank of Georgia, has said.
In his social media post on Monday, Gotsiridze highlighted a recent appeal loss against Russian energy company Inter RAO, owner of Tbilisi-based Telasi, which obliges Georgia to pay $76 million. Delays in the appeal process added an $18 million fine, bringing the total liability to $94 million, Gotsiridze claimed.
He directly blamed former Energy Minister and the ruling Georgian Dream Tbilisi mayoral candidate Kakha Kaladze for signing a contract with Inter RAO that he described as damaging to the country’s interests and still confidential.
In a separate case, he said Georgia had lost a Paris court dispute with Turkish company ENKA over the Namakhvani hydroelectric project, leading to a $380 million fine. With fines and enforcement proceedings in Washington, Gotsiridze estimated the total cost could reach $450 million, holding former Prime Minister Irakli Garibashvili responsible.
He said the combined losses, equivalent to around 1.5 billion Georgian lari, could have funded major infrastructure projects, including the Anaklia deep-sea port in the country’s west, and warned that those responsible would face accountability.
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Roman Gotsiridze