UPDATE: Russian Ownership of Georgia Increases by 500%

A watchdog organization, The Institute for the Development of Freedom of Information (IDFI), recently released its third report in a series titled “Russian Capital and Russian Connections in Georgian Business.” One of the more concerning items their report highlights is the significant increase in Russian land and property ownership in Georgia and the influence of Russian capital in the Georgian market. While this report only reviews information through part of 2022, it raises several national and regional security questions concerning Russian intentions and their influence on Georgian politics.

From January to November 2022, the number of Russian citizens owning parts of Georgia rose by an unprecedented amount. In Tbilisi, the number of Russian transactions increased from 0.9% to 5%, and in Batumi, it went from 5% to 17.6%. These figures account for just one small part of the initial Russian migration to Georgia. Yet they represent 15,164 buildings and structures (13,262 apartments) and 13,850 land plots.

The above figures are accurate as of September 9, 2022, but do not account for purchases after those dates, as the National Public Registry has yet to release current information on more recent transactions. Nor can the Registry track those Russians who have purchased land through third parties or by proxy to hide their affiliation with Moscow. However, based on Russia occupying 20% of Georgia, the undeniable fact of Russians freely taking over more parts of Georgia should raise alarms to those aware of Russia’s preferred tactic of ‘liberating’ their citizens from the ‘oppression’ of other countries.

Of further concern are 161,032 Russian citizens holding accounts in the commercial banks of Georgia, whose deposits reached 2.87 billion GEL as of December 2022. In January 2022, before the war of Russian aggression towards Ukraine, Russian deposits in Georgia were only about 710 million GEL. Specifically, Russians have brought 2.16 billion GEL into Georgia as of 2022. Figures for 2023 aren’t currently available, but they will undoubtedly be equally concerning.

Then there is the number of so-called Russian ‘tourists’ who entered Georgia in 2022. In total, there were 1,087,257 visitors from Russia in 2022. This figure represents 25% of all international travel for 2022. And those ‘visitors’ in 2022 spent almost 900 million US dollars in Georgia, or about 2.34 billion GEL at a 2.60 exchange rate, accounting for 25% of all foreign tourist expenditures for the year. With nearly 25% of Georgia bought in one form or another by Russians and another 20% of the country occupied by the Russian government, one has to ask where it stops and why so few are raising alarms.

Russia has a history of imperialistic expansion. The country makes no secret of its desire to annex all former Soviet Republics, of which Georgia is one. We have suffered over a century of Russian aggression, abuse, and betrayal as a nation. Considering that Russia illegally occupies 20% of Georgia, and now our lands are being sold to Russians, one must ask how this ends for the nation. What impact will the influx of hundreds of thousands of Russians have on the Georgian language and culture? How will their involvement in local business and politics shape the future of our country? And, most importantly, who will keep national security from degrading under the influence of Russians and their Oligarchs when Georgia is being sold to Russia almost as fast as they can buy it?

Source: IDFI