Abkhazian ‘Parliament’ Votes Against Investment Agreement With Russia

• 3.12.2024, 13:03

The bill sparked mass protests.

The “deputies” of the “parliament” of Abkhazia voted against ratifying the Abkhaz-Russian investment agreement, which became the reason for mass protests in November, Interfax reports.

22 “deputies” voted against ratification, two abstained. Before the start of the extraordinary session, citizens gathered outside the “parliament” building in anticipation of the “deputies” decision.

A number of opposition organizations had previously demanded that the “parliament” hold an extraordinary session and vote against ratifying the agreement. The appeal was sent to the “speaker” of the “parliament” Lasha Ashuba. It emphasized that refusing to ratify would help reduce socio-political tensions and ensure peaceful elections.

Protests in Abkhazia began on the evening of November 11 after the arrest of several oppositionists who opposed the ratification of an agreement that allows Russian companies to implement projects in the “republic.” It exempts investors from customs duties on imported construction materials and equipment, as well as from paying property and income taxes. In addition, they will have to pay only 5% VAT instead of 10%. Investors also receive an advantage in obtaining energy and connecting to the power grid, and can use the allocated Abkhaz land as collateral for a bank loan.