A potential move by the United Kingdom to impose sanctions on Bidzina Ivanishvili, the honorary chairman of the ruling Georgian Dream party, could have severe financial consequences, according to Irakli Abesadze, founder of the Civil Participation Center.
Speaking on the matter, Abesadze suggested that British sanctions would significantly impact Ivanishvili’s financial activities due to his extensive offshore holdings within British jurisdiction.
“These sanctions will cause much more and more serious problems for Ivanishvili because he had many more offshore companies in British jurisdiction,” Abesadze said. He noted that although Ivanishvili had reportedly transferred dozens of companies to Georgia, it is highly probable that he still retains assets within the UK’s jurisdiction, including real estate and other properties.
The financial ramifications of such sanctions could extend beyond asset freezes, potentially isolating Ivanishvili from global financial transactions. “His sanctioning in Britain will create even more problems for him as a financial partner for other businessmen and, in fact, he will ultimately become unacceptable for any financial transactions,” Abesadze added.
The remarks come after the issue of Georgia and the possible sanctioning of Ivanishvili was raised in the UK House of Commons. The discussion signals growing international scrutiny of the former Georgian prime minister’s financial dealings and political influence.
