Day: May 27, 2026

The Board of Peace fund, established by US President Donald Trump, is empty, and the organization is facing a financial and political impasse, making the reconstruction of the Gaza Strip impossible, the Financial Times reported on Wednesday, citing four people with knowledge of the matter, AzerNEWS reports.

The Board of Peace fund, established by US President Donald Trump, is empty, and the organization is facing a financial and political impasse, making the reconstruction of the Gaza Strip impossible, the Financial Times reported on Wednesday, citing four people with knowledge of the matter, AzerNEWS reports.

The United Kingdom has sanctioned three Georgia-registered companies “operating Russia-focused exchanges seeking to evade sanctions” as part of its broader crackdown on crypto and illicit finance networks exploited by Russia to circumvent UK sanctions, British authorities announced on May 26.

The sanctioned companies were identified as Arvix LLC, Rapira Group LLC, and Aifory LLC. None of them or their owners are widely known to the Georgian public. The National Bank of Georgia (NBG) said the three companies are not under its regulatory supervision, while the Investigation Service of the Finance Ministry stated that an investigation into the firms is ongoing and has already led to “concrete legal consequences,” noting that the companies’ actual operations were not based in Georgia.

According to Georgia’s National Agency of Public Registry, Aifory LLC was registered in Tbilisi on June 22, 2023. The company was initially owned by Giorgi Nutsubidze, while the 2024 data lists Mikheil Gevorkiani as its owner.

Arvix LLC was registered in Tbilisi on October 26, 2023. Its director is listed as Davit Nutsubidze, while the current owner is reportedly Tamaz Garaev. No other public information is available about these individuals.

Rapira Group LLC was registered on November 9, 2022, under the directorship of Ilias Ahaevi. According to the latest public registry data from May 2026, the company is currently undergoing liquidation proceedings.

Under Georgian law, all individuals and companies operating crypto-related businesses must register as Virtual Asset Service Providers (VASPs) with the National Bank of Georgia and comply with anti-money laundering and counter-terrorism financing regulations. Currently, 39 entities are registered as VASPs in Georgia.

Commenting on the sanctions, the NBG said the three companies were operating outside its regulatory control. The bank noted that after it became aware in September 2025 that the companies were operating without relevant registration, it “provided information to law enforcement agencies and implemented appropriate supervisory measures.”

On May 27, the Investigation Service of the Ministry of Finance said the investigation established that Aifory LLC and Arvix LLC “were fictitiously registered in the names of other persons in exchange for a certain remuneration, while in reality they were operating in Russia, Moscow, and had no assets or offices in Georgia.”

The agency said that, under an April 28, 2026, court ruling, three defendants in the case were given fines of 30,000 GEL (about USD 11,000) and received suspended sentences, while Davit Jincharadze, identified as “the organizer of the crime,” was sentenced to nine years and six months in prison.

Regarding Rapira Group LLC, the Investigation Service said the company had been registered under a power of attorney by a British citizen and “operated exclusively through the website “rapira.net,” serving only Russian citizens.” According to the agency, the domain was “registered through a Russian registrar,” while the company had no recorded bank turnover, assets, or offices in Georgia, making its registration “purely formal in nature.”

The UK previously sanctioned Georgian pro-government TV channels Imedi TV and PosTV in February over “Russian disinformation,” citing their role in spreading “deliberately misleading information” about Russia’s full-scale invasion of Ukraine.

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