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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on March 5, 2025

    Featured image for article about Headlines

    (Reuters) - Russian President Vladimir Putin said Russia would continue supplying electricity to the breakaway Georgian region of Abkhazia at a meeting in the Kremlin on Wednesday with its leader Badra Gunba.

    Putin congratulated Gunba on his victory in a presidential election at the weekend, describing Russia-Abkhazia relations as "special". The election was held months after Gunba's predecessor was driven from office following protests over an investment deal with Russia.

    Most countries recognise Abkhazia as part of Georgia, which called the election "another flagrant violation of Georgia's sovereignty and territorial integrity".

    Abkhazia has in recent months been plagued by an electricity crisis, with blackouts blamed on low water levels at a key hydroelectric plant and large-scale cryptocurrency mining, which requires large amounts of energy.

    In a televised meeting at the Kremlin, Putin agreed to maintain Russian electricity supplies to Abkhazia until mid-April to help the country to overcome its severe energy deficit.

    Additionally, Putin agreed to continue granting Russian citizenship to Abkhazians. According to Gunba, around 70% of the Abkhazian population already hold Russian passports.

    A lush, Black Sea coastal territory of about 240,000 people, Abkhazia broke away from Georgia after a war in the early 1990s, with the support of Russia.

    Moscow recognised Abkhazia as independent after another war in 2008. Tens of thousands of ethnic Georgians were expelled from the region in successive conflicts.

    Though the territory is politically and economically dependent on Russia, some Abkhazians have been critical of what they see as Moscow's growing influence.

    (Reporting by Maxim Rodionov; Editing by Alexander Marrow and)

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