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Russia-Ukraine Conflict will Essentially Shake Georgian Economy

Russia-Ukraine conflict will essentially hit economy of Georgia, Kakha Gogolashvili, director for Georgian Foundation for Strategic and International Studies, noted.

This will happen if the escalation reaches the phase when, Georgia will have to join the sanctions against Russia. Georgia depends on Russian market. Consequently, in case of sanctions, naturally, Russia will take responsive steps and will close the market, including for Georgia and this will considerably damage the Georgian economy. 

„Our trade relations with Russia are growing and this is important. Our exports reached 15%. Therefore, our dependence on Russian market has also increased. In case of sanctions, Russia will take adequate steps and suspend trade relations with Georgia. If the current escalation is fuelled to this degree and Georgia joins these sanctions against Russia, our economy will bear serious losses. I do not think Russian will be confined with partial sanctions. Russia is expected to fully close imports channels and naturally, we will bear serious losses”, Kakha Gogolashvili noted.