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

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The story "Georgia&#039;s richest man said to be moving funds to avoid US sanctions" was covered 2 days ago by BBC Business, a news publisher based in United Kingdom.

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

Quick Summary:

The pro-Russian businessman is reported to be moving overseas assets back to the Caucasus country.

Mr Gilauri of Reformatics says their own analysis shows that Georgia's economic growth this year will be zero."Going forward, we will have a budgetary problem, a currency exchange problem.

Separately, Mr Ivanishvili's lawyer announced last month that his client is suing Swiss bank Julius Baer for, among other reasons, misinterpreting "the so-called" American sanctions, which the lawyer described as "political blackmail".