Sanctions Creating Path for PRC Ownership of Key Georgian Businesses

(Tinatin Khidasheli – The Jamestown Foundation) Western sanctions are reshaping ownership of some strategic assets in Georgia through pressuring Georgian Dream-aligned businessman Irakli Rukhadze, the fourth-richest entrepreneur in Georgia, to divest from some of his key businesses. On April 16, Liberty Bank, Georgia’s third-largest bank, which Rukhadze owned roughly a third of, was sold to BasisBank, owned by the People’s Republic of China (PRC)-based Hualing Group. In February, Rukhadze sold Tbilisi’s main state-affiliated outlet, Imedi TV, just weeks before the United Kingdom announced sanctions for Russian disinformation. The Liberty Bank sale raised transparency concerns because Georgia’s National Bank previously blocked the deal in 2025, citing opaque ownership structures and difficulties identifying ultimate beneficiaries. Sanctions on Georgia are forcing asset sales and creating opportunities for PRC-linked investors to acquire strategic Georgian assets. PRC-based control of Liberty Bank, the primary distributor of state pensions, raises concerns about data sovereignty, political influence, and national security. – Sanctions Creating Path for PRC Ownership of Key Georgian Businesses – Jamestown