Sanctioning Russian energy company Inter RAO creates both operational and reputational risks for Georgia, according to energy expert Archil Mamatelashvili. He says the EU sanctions are likely to complicate the company's access to Western technology, financial services, and international banking.
Speaking to BMG, Mamatelashvili said Western banks and suppliers are expected to avoid transactions with sanctioned entities, which could also affect Georgian companies providing services or equipment to Inter RAO-linked businesses. He added that international financial institutions are likely to increase compliance checks even for Georgian firms with no direct sanctions exposure.
The expert warned that the presence of a sanctioned shareholder in Georgia's energy sector could discourage Western investors, particularly given the country's relatively small market size. According to him, this could push Georgia to rely more heavily on Russian, Chinese, or other Asian capital.
Mamatelashvili argued that the most effective solution would be for the Georgian state to acquire Inter RAO's shares or facilitate their reprivatization to remove the sanctioned company from the country's energy sector. Inter RAO, which indirectly owns stakes in Telasi and Khrami HPPs 1 and 2 through Dutch subsidiaries, was added to the EU sanctions list as part of measures targeting Russia's energy sector.
