Publication: N15 / Review period: June 1-30, 2022/ Author: Tamta Kapanadze
Review of Russia’s Economic Relations with Abkhazia and Tskhinvali Region is being prepared within the framework of the project - Roadmap to Kremlin's Policy in Abkhazia and the Tskhinvali Region. The purpose of the publication is to provide an overview of economic relations between Russia and Abkhazia and the Tskhinvali region. The review is a monthly publication and will be useful for everyone – decision-makers, public employees, media representatives and other people who are interested in the Kremlin policy in the occupied regions of Georgia.
Economic Relations Between Russia and Abkhazia
St. Petersburg International Economic Forum
The de facto Vice Prime Minister and the Minister of Economy of Abkhazia, Kristina Ozgan, together with the de facto Minister of Finance, Vladimir Delba, participated in the 25th anniversary of the International Economic Forum, which was held from June 15 to 18 at the Expo-Forum in St. Petersburg. At the forum, the main theme of discussion this year was New Opportunities and Growth Potential in Modern Reality. On June 17, the Russian President, Vladimir Putin, also participated in the plenary session of the forum.
In an interview with Radio Sputnik, Vladimit Delba talked about how the economies of states are built and transformed in the conditions of the global world and how they came out of crisis situations under severe sanctions.
Dmitry Volvach’s Visit to Sokhumi
The Deputy Minister of Economic Development of Russia, Dmitry Volvach, who oversees the occupied regions of Georgia in the Ministry, visited Sokhumi. On the first day of the visit, Mr. Volvach inspected the progress of projects under the Russian funding. On June 28, he met with the de facto President, Aslan Bzhania, and on June 29 - with the de facto Prime Minister, Alexander Ankvab.
“National Bank’s” Report for 2021
The Chairman of the “National Bank of Abkhazia,” Beslan Barathelia, presented the 2021 report to the de facto parliament of Abkhazia. According to a decree of the de facto parliament, the report was unanimously approved.
In 2021, the total volume of transactions in Abkhazia's “national” payment system APRA amounted to RUB 25.3 billion. On the territory of Abkhazia, a total of 46% of all transactions are carried out with APRA cards, 54% - with cards of the international payment system, of which MIR cards account for 7.2%.
Since Visa and Mastercard suspended their operation in Russia, MIR cards do not work on foreign web-pages and services. Those Russian banks which issue MIR cards will introduce a new payment method from October 25, which will provide QR code generation and payment with a smartphone without a bank card.
In addition to Abkhazia, MIR cards can also be used in the occupied Tskhinvali region.
New Batch of Commemorative Coins
The National Bank of Abkhazia plans to issue commemorative silver coins. Currently, the theme of the coins is Outstanding Personalities of Abkhazia and Heroes of Iskander. The circulation of each coin will be 300 pieces, the material will be silver.
Economic Relations between Russia and the Tskhinvali Region
St. Petersburg International Economic Forum
Together with the delegation from Abkhazia, a delegation from the Tskhinvali region also took part in the St. Petersburg International Economic Forum. The delegation included Gennady Bekoev, the de facto Acting Prime Minister, and Dzambolat Tadtaev, the de facto Vice Prime Minister and the Minister of Economic Development. Within the framework of the forum, meetings were held with business representatives and leaders of Russian regions.
Vitaly Gudin’s Visit to Tskhinvali
On June 23, the de facto Prime Minister of the Tskhinvali region, Konstantin Jusoev, hosted a Russian delegation headed by Vitaly Gudin, the Director of the Department of Special Programs and Projects of the Ministry of Economic Development of Russia. At the meeting, the progress of the 2020-2022 investment program and the formation of the 2023-2025 investment program were also discussed. In 2022, it is planned to implement 20 projects with Russian funding in the Tskhinvali region.