Published by Global Banking & Finance Review®
Posted on March 6, 2025
2 min readLast updated: January 25, 2026
Abkhazian President Badra Gunba distances from a controversial Russian investment deal, emphasizing local interests and public opinion.
(Reuters) - The new leader of the breakaway Georgian region of Abkhazia told Russian state media on Thursday he does not plan to implement the current form of a controversial investment deal with Moscow that led to his predecessor's ouster last year.
Badra Gunba, who won a presidential election at the weekend, told TASS in an interview that as a "responsible person" he must "listen to the opinion of our people" and not push the current agreement through.
"I came out with an initiative to my Russian colleagues not to make such a decision in this form," he said, adding that this had met with understanding on the Russian side.
Gunba did not say if he planned to renegotiate the agreement with Moscow, which critics in Abkhazia feared would allow wealthy Russians and businesses to buy up property in the lush Black Sea region, pricing out locals.
Last November, Gunba's predecessor, Aslan Bzhania, was ousted after protesters stormed the parliament in opposition to the investment agreement. Parliament voted against the deal in December.
Abkhazia is economically dependent on Moscow, which recognised it as an independent entity in 2008 after a short war between Russia and Georgia. Most countries still recognise it as part of Georgia, from which it broke away during wars in the early 1990s.
Abkhazia has recently been plagued by severe electricity shortages, and has relied on emergency supplies from Russia to stave off a humanitarian crisis.
Gunba, 43, met with Russian President Vladimir Putin on Wednesday in Moscow. The Kremlin leader pledged to continue electricity supplies until mid-April.
Gunba told Abkhazian media he planned to prioritise relations with Russia, which he said was a crucial partner in solving problems in Abkhazia.
(Reporting by Lucy Papachristou; Editing by Mark Trevelyan)
Badra Gunba stated he does not plan to implement the current form of the controversial investment deal, emphasizing the need to listen to the opinion of the people.
Critics in Abkhazia fear that the agreement would allow wealthy Russians and businesses to buy up property in the region, which could impact local ownership.
Abkhazia has faced severe electricity shortages and has relied on emergency supplies from Russia to avoid a humanitarian crisis.
Gunba met with Putin and received a pledge to continue electricity supplies to Abkhazia until mid-April.
Gunba's predecessor was ousted after protests against the investment agreement, and the parliament voted against the deal in December.
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