INTRODUCTION
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury recently imposed sanctions on Bidzina Ivanishvili, the billionaire widely regarded as Georgia's de facto ruler and the chair of the Georgian Dream party. These measures, which include asset freezes and travel bans, aim to address democratic backsliding in Georgia and Ivanishvili's personal role in the country's perceived drift toward Russian influence. While the sanctions target Ivanishvili personally, their economic consequences could ripple through Georgia’s political and economic landscape, with both immediate and long-term implications. Drawing from recent empirical studies, this report examines the broader potential impacts of these measures on Georgian economy.
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