Georgian PM on Ivanishvili-Credit Suisse case: 'this was robbery with clear political motives'

Georgian Prime Minister Irakli Kobakhidze on Monday welcomed the establishment of “truth” in the Credit Suisse case involving ruling party founder Bidzina Ivanishvili’s assets, telling journalists that the dispute had been “politically motivated” from the start.

Kobakhidze said the case amounted to a “robbery” that began in 2008 and was directly linked to Ivanishvili’s break in communication with then-President Mikheil Saakashvili and the ruling authorities of the time.

“We all knew what the truth was and how blatant the robbery was in the case connected to Ivanishvili’s account at the Swiss bank. This was a robbery case that started in 2008 and had a clear political basis. Its beginning coincides with the period when Ivanishvili cut all communication with Saakashvili and the then-government. What followed was a process that has continued for years,” Kobakhidze said.

The Prime Minister argued that the situation highlighted deeper problems within the banking system, saying “this shows the grave condition within the banking sector itself. Such crude treatment of private clients by commercial institutions happens in the heart of Europe, in Switzerland - something unimaginable decades ago, but now a reality”.

Kobakhidze added that despite the court ruling, the return of funds was not guaranteed.

“As Ivanishvili’s lawyer has already noted, the court decision alone does not ensure the money will be returned. Pressure and blackmail continue, tied to political developments and we believe this will persist. Let us see how events unfold. Ivanishvili has repeatedly stated that no form of blackmail will force him to take any step against the country”, he said.