Pension Fund Portfolios Show Positive Results in December

Events in Iran Pose Migration Risk to the South Caucasus

So far, the governments of the three South Caucasus countries have not made official statements regarding this potential threat. Farhad Mamedov, a political analyst close to official Baku, notes that the news from Iran is being perceived emotionally. “If a civil war breaks out in Iran, the issue of Azerbaijanis living there will gain special significance, and Baku will likely provide every possible assistance to its compatriots to ensure their safety,” he said.Armenia reports concerns that its connection with the Armenian community in Iran is disrupted. Diaspora Affairs Commissioner Zare Sinanyan stated that a similar situation occurred last June during the 12-day conflict between Iran and Israel. “At that time, we received information from citizens crossing the border. Probably today it is also better to do the same, as the existing information vacuum worries us greatly,” he said.Experts note that in recent years, Iran has been an active supporter of Armenia’s territorial integrity and a firm opponent of the Zangezur corridor, which would connect Azerbaijan directly with Turkey by land. If Iran weakens, Yerevan’s position will also weaken, while the Baku–Ankara tandem will strengthen. This could also reduce Russia’s influence in the South Caucasus.Against the backdrop of the ongoing protest wave in the Islamic Republic, Armenia’s Foreign Minister met in Yerevan with the Iranian Deputy Foreign Minister. On Tuesday, January 13, the Armenian Foreign Minister will meet with the U.S. Secretary of State in Washington.

Prosecutor’s Office Sentences Garibashvili to 5 Years in Prison and GE...

According to the official statement, Garibashvili was convicted under Article 194, Part 3 of the Georgian Criminal Code. In addition to imprisonment, he was issued an additional fine of GEL 1 million.The Prosecutor’s Office also announced that the state will confiscate all funds obtained through the criminal scheme, including the cash seized during a search of Garibashvili’s residence.Garibashvili has admitted guilt and accepted the terms of the plea agreement. The court has already approved the prosecution’s motion, making the agreement legally binding.

Kremlin Shifts Policy: Abkhazia “Independent,” South Ossetia Moving To...

The report notes that Abkhazia will continue seeking international recognition, while South Ossetia will intensify efforts to integrate with Russia. Both regions are entering an election cycle in 2026, ahead of so-called presidential elections in South Ossetia and parliamentary elections in Abkhazia scheduled for spring 2027.Russia occupied South Ossetia and Abkhazia in August 2008 during its large-scale war against Georgia. Tens of thousands of Georgians were displaced. Shortly after the conflict, Moscow declared both regions independent entities, and Russian armed forces continue to control these territories.

“Georgian Dream” Forms Government Commission on Food Prices

Other members of the commission include: Mariam Kvrivishvili, Minister of Economy and Sustainable Development Davit Songulashvili, Minister of Environmental Protection and Agriculture Lasha Khutsishvili, Minister of Finance Mikheil Sarjveladze, Minister for Internally Displaced Persons from the Occupied Territories, Labor, Health, and Social Affairs Mamuka Mdinadze, Head of the State Security Service Levan Zhorzholiani, Head of the Government Administration Irakli Lekvinadze, Chairman of the Competition and Consumer Protection Agency On December 24, 2025, Kobakhidze stated that the price difference between Georgian and European food products is significant. He argued that this gap is largely caused by the high markups of distribution companies and supermarkets, which average 86% from border to shelf.At that time, Kobakhidze called on law enforcement agencies to investigate food prices and determine whether there are any signs of criminal activity. He also requested the parliament to establish a parliamentary commission to review the issue. In response, the State Security Service announced that it had begun examining food price-related matters.Previously, in February 2023, former Prime Minister Irakli Garibashvili, who has been accused of corruption, stated that in order to regulate food prices, rules on margins for importers and retailers would be established.Since retail sector regulations in Georgia are not harmonized with European standards, the Ministry of Economy, under Garibashvili’s direction, prepared a draft law on fair trade to regulate retail rules.Garibashvili explained the situation as follows:“The picture that emerged is this – importers’ markups in some cases have increased by 100%, which is unacceptable. This issue needs to be regulated.”Following his instructions, the National Competition Agency studied the market for seven staple products (rice, buckwheat, pasta, sugar, salt, oil, butter). The agency concluded that while import-level markups were indeed high, no cartel agreements or legal violations were officially confirmed. The agency issued only recommendations to businesses.

Prosecutors arrest former State Security Chief Grigol Liluashvili

Prosecutor General Giorgi Gvarakidze made this announcement during a briefing at the Georgian Prosecutor’s Office.Liluashvili faces charges relating to multiple episodes, including bribery, so-called call centres, and procurement contracts at the nursery management agency.“As a result of joint operational and investigative efforts conducted by the Prosecutor General’s Office of Georgia and the State Security Service, the former head of the State Security Service, Grigol Liluashvili, has been arrested. He is currently under investigation for bribery in several criminal cases.First episode: In October 2022, through the then-First Deputy Minister of Economy and Sustainable Development, Romeo Mikautadze, he accepted a bribe of one million US dollars from Turkish investor Çağatay Ülker, to lobby on his behalf for the execution of a memorandum of cooperation related to the construction of wind power stations.Second episode: In February 2022, again through Romeo Mikautadze, he demanded and extorted one million five hundred thousand Georgian lari from Giorgi Khazhalia, founder of the company ‘Expressservice 2008’, in exchange for assistance with gasification tenders.Third episode: This concerns the period between 2021 and 2023, when, despite the government’s declared legal battle in this direction, several dozen fraudulent call centres continued to operate in the country. According to witness testimony, the vast majority of these call centres belonged to a group of individuals who used the proceeds to finance various opposition media outlets, whilst a relatively small portion of the call centres operated under the primary protection of Grigol Liluashvili, who conducted this activity through his relative, Sandro Liluashvili.As a result of this criminal activity, Grigol Liluashvili received approximately USD 1,365,000 in bribes through the intermediary Sandro Liluashvili.We also inform the public that, based on these factual circumstances, the investigation is working intensively, alongside gathering evidence against other individuals involved in the criminal scheme, on a theory according to which Grigol Liluashvili, together with other co-conspirators, ensured that the existence of fraudulent call centres financing opposition media was not exposed, whilst the opposition media, for their part, did not report information about the existence of fraudulent call centres under Liluashvili’s protection, despite possessing this information.Fourth episode: Grigol Liluashvili, exploiting his official position, protected his friend, Kakha Gvantseladze, the former director of Tbilisi City Hall’s Nursery Management Agency, in exchange for bribes, who received exceptionally large sums of money in the form of bribes, so-called kickbacks, from business entities in the execution of procurement contracts for nurseries.In the aforementioned criminal scheme involving Liluashvili and Gvantseladze, Kakha Gvantseladze involved employees from the agency’s financial accounting and settlement division, as well as monitoring staff. Resolutions have been issued to hold all of them accountable as defendants in criminal proceedings.Hundreds of investigative actions have been conducted in the criminal case, including interrogation with witnesses whose testimony confirms the commission of crimes by Grigol Liluashvili and others. Various pieces of evidence substantiating the crimes have also been obtained, including video and audio recordings,” Giorgi Gvarakidze stated.According to the Prosecutor General, Grigol Liluashvili is charged under Article 338, Part 2, Subparagraph ‘g’ and Part 3, Subparagraph ‘e’ of the Criminal Code of Georgia, which refers to bribery by a group acting with prior agreement and on an exceptionally large scale, carrying a sentence of 11 to 15 years’ imprisonment.