Giorgi Ramishvili, founder of the influential Silk Road Group and one of Georgia’s most prominent businessmen, was arrested at Tbilisi International Airport on July 6. According to a statement by the Ministry of Internal Affairs (MIA), Ramishvili was found in possession of a firearm registered in his name, yet was not authorized to carry it. Law enforcement also discovered a magazine and cartridges during a scan of his hand luggage.
The Ministry confirmed that an investigation is underway under Parts 3 and 4 of Article 236 of the Georgian Criminal Code. These provisions cover the unlawful acquisition, storage, and carrying of firearms and ammunition, carrying potential prison sentences ranging from three to seven years. As of now, the Prosecutor’s Office has not officially filed charges against Ramishvili.
MIA Statement Excerpt:
"On July 6 of this year, law enforcement officers, while scanning G.R.’s hand luggage at the departure terminal of Tbilisi International Airport, seized a firearm, a magazine, and cartridges. It was determined that the firearm in question was registered in G.R.’s name, although the person in question did not have the right to carry it. The investigation is ongoing under Parts 3 and 4 of Article 236 of the Criminal Code."
Despite the legal developments, Giorgi Ramishvili remains a central figure in Georgia's economic landscape, with a diverse portfolio spanning telecommunications, real estate, banking, media, and energy.
- Silknet
Ramishvili is the founder of Silknet, Georgia’s second-largest mobile operator and internet provider. The company boasts:
- 2 million mobile subscribers
- 365,000 internet users
- 278,000 IPTV subscribers
In 2024 alone, Silknet generated:
- GEL 304 million from mobile services
- GEL 141 million from internet services
- GEL 56 million from IPTV
Silknet’s total assets exceed GEL 858 million.
2. Silk Real Estate
Through Silk Real Estate, Ramishvili owns and manages some of Georgia’s most iconic luxury hotels and properties, including:
- Radisson Blu Tbilisi
- Radisson Blu Batumi
- Radisson Collection Tsinandali
- Telegraph Tbilisi (recently opened)
- Park Hotel Tsinandali
- Republic Complex
Additionally, the group operates Iveria Casinos in both Tbilisi and Batumi, integrated within Radisson hotels.
In 2024, Silk Real Estate reported:
- GEL 258.7 million in total revenue
- GEL 154.5 million from casino operations
- GEL 93 million from hotel operations
Its total asset value stands at GEL 883 million.
3. Silk Bank
Ramishvili also controls Silk Bank, a relatively smaller but significant player in Georgia’s banking sector.
As of May 2025:
- GEL 188 million in total assets
- GEL 80 million in loan portfolio
- GEL 125 million in deposits
The bank reported a GEL 2.7 million loss in the first five months of 2025.
4. Silk Media
His media interests include ownership of:
- The Georgian TV company Silknet
- The Georgian edition of Euronews
- In 2024, Silk Media reported GEL 7.5 million in revenue, of which GEL 7.2 million was contributed by the owner.
5. Wissol Petroleum Georgia
Ramishvili owns a 15.5% minority stake in Wissol Petroleum, one of the largest oil companies in Georgia.
Key shareholders include:
- Levan Pkhakadze – 37.8%
- Soso Pkhakadze – 31%
- Alexey Topuria – 7.1%
- David Franz Borger – 2.4%
In 2023, Wissol generated GEL 642 million in revenue.
6. Silk Road Holding and Partners
Within Silk Road Holding, Ramishvili holds a 36.3% stake. Other major shareholders include:
- Erkin Tatishev (Kazakh businessman) – 36.3%
- Alexey Topuria – 16.7%
- David Franz Borger – 5.6%
- Davit Mamulaishvili – 5%
While Giorgi Ramishvili’s arrest has raised serious legal questions, the broader implications for Georgia’s economy, and the many businesses he influences remain uncertain. As the investigation continues, the business community will closely watch how this case unfolds and whether formal charges will be brought against one of the country’s most influential economic figures.
