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Georgia's richest man said to be moving funds to avoid US sanctions

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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.
Bidzina Ivanishvili, Georgia's richest man and former prime minister, is reportedly transferring his assets to avoid potential U.S. sanctions due to his connections with Russian oligarchs. According to a Bloomberg report, Ivanishvili has been moving funds and assets, including shares in his investment firm, to his family members. This action comes amidst heightened geopolitical tensions and the risk of sanctions against individuals linked to Russia. Ivanishvili, who made his fortune in Russia before returning to Georgia, has significant investments in various sectors including banking, real estate, and utilities. His moves are seen as a preemptive measure to safeguard his wealth amid fears that the U.S. might impose sanctions on him for his past business dealings with sanctioned Russian entities.

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