Black Sea Petroleum, the company behind Georgia’s Kulevi Oil Refinery, has claimed to have stopped processing Russian crude oil after the EU threatened to sanction it if it did not cease processing Russian crude by 2027. According to a statement published... See more
Economy Group behind Armenia’s Ardshinbank acquires Georgia’s Terabank and Biltmore Tbilisi Arins Group is solely owned by Armenian businessperson Karen Safaryan. Arins Group is solely owned by Armenian businessperson Karen Safaryan. Prime Minister Irakli... See more
Arins Group, which owns Ardshinbank, Armenia’s largest bank, has signed an agreement to acquire Georgian lender TeraBank and the Emirati royal family-owned five-star Biltmore Tbilisi hotel. Arins Group is solely owned by Armenian businessperson Karen Safa... See more
Georgia–EU Relations Black Sea Petroleum says transition away from Russian crude underway after EU sanctions scare Black Sea Petroleum, the company behind Georgia’s Kulevi oil refinery, which was recently listed in the EU’s latest Russia-related sanctions... See more
Georgia–EU Relations EU sanctions extend to Russian majority stakeholder of Georgia’s electricity distributor The latest EU sanctions package includes Inter RAO, one of Russia’s largest state-controlled energy companies. The company indirectly owns a 75% ... See more
