This policy brief addresses risks tied to Russian business ownership in Georgia. The concentration of this ownership in critical sectors such as electricity and communications makes Georgia vulnerable to risks of political influence, corruption, economic manipulation, espionage, sabotage, and sanctions evasion. To minimize these risks, it is recommended to establish a Foreign Direct Investment (FDI) screening mechanism for Russia-originating investments, acknowledge the risks in national security documents, and implement a critical infrastructure reform.

On October 3, ISET Policy Institute and Zinc Network organized a public presentation: A Study on Risks Associated with Russian Business Ownership in Georgia. The event was attended by representatives from local and international institutions, civil society organizations, and the broader public.

To identify the specific risks associated with Russian business ownership, this study draws upon a comprehensive literature review and conducted expert interviews. The study places Russia within the context of a global threat actor and examines the exploitation of private business ownership by hostile state actors as a hybrid threat.

On March 29, the ISET Policy Institute hosted a policy presentation on the economic impact of

According to the data, Georgia holds 5th place in the world in terms of entries from Russia in January-September 2022 (with 662,852 exits of Russian citizens from Russia to Georgia-controlled territories recorded in the first 9 months, or 4% of the total recorded exits from Russia).