On May 7, the Russian Deputy Minister of Finance, Alexey Sazanov, held meetings with the President, Aslan Bzhania, and the Prime Minister of the de facto Republic of Abkhazia, Alexander Ankvab.

The purpose of Sazanovs visit to occupied Abkhazia is to sign an agreement between the governments of Russia and the de facto republic on the avoidance of double taxation and the prevention of income tax evasion.

At the meeting, Bzhania noted that the new agreement will contribute to the development of trade and economic cooperation between occupied Abkhazia and Russia. On his part, Sazanov added that the signed agreement would lead to an increase in private investment in Abkhazia, especially in the tourism sector. According to him, Russian private investors are interested in Abkhazia, and the agreement will help reduce risks and allow investors to implement projects more actively.

As a result of the agreement, the double taxation system will no longer apply to local Abkhaz businesses, which will allow Abkhaz entrepreneurs to develop their activities both in Russia and in occupied Abkhazia.

The agreement was signed by Sazanov and the Deputy Prime Minister of the de facto republic, the so-called Minister of Finance, Vladimir Delba.