Georgian MP Viktor Japaridze, the main shareholder of the Georgian pro-government TV channel POSTV, transferred management of his shares to another person 25 days before the UK imposed sanctions on the channel. Japaridze, who is a member of the Georgian Dream satellite party People’s Power, said his decision was prompted by Georgian law, and did not name a connection with the threat of sanctions.
The UK sanctioned POSTV, alongside major Georgian pro-government TV Imedi, on Tuesday, the fourth anniversary of Russia’s full-scale invasion of Ukraine.
Both were listed as ‘entities involved in Russian disinformation’ and appear to be the only media outlets included in the latest sanctions package, which named hundreds of new entities and individuals.
The sanctions became top news in Georgian media, with several outlets highlighting a 30 January document on the public registry showing a change in the management of the POSTV shares.
According to the document, Japaridze, who owns 52% of POSTV, remained a shareholder but transferred management of his shares to Zaza Maridashvili.
The POSTV moves occurred at the same time as the ownership of Imedi transitioned, with the channel’s owner Irakli Rukhadze selling the company outright. Speculation soon arose in both cases that the owners’ decisions were linked to the threat of sanctions.
‘Viktor Japaridze transferred his shares 25 days ago, and a few days ago Irakli Rukhadze did the same. Apparently, they managed to get the information in advance and the rats jumped first from the ship doomed to sink’, Irakli Kupradze, leader of the opposition party Lelo, said while commenting on the issue.
Yousef Bardouka
In a response, Japaridze did not confirm or explicitly deny having prior knowledge of the sanctions, explaining that his decision was motivated by his role as an MP and a desire to comply with the law.
‘In fact, as a law-abiding citizen and a member of the Parliament of Georgia, I am not allowed to manage a business myself, so I transferred my share in the TV channel to a specific person solely for management purposes, to ensure my activities do not conflict with the law’, Japaridze said, adding that he has never interfered in POSTV’s editorial policy.
He further emphasised that he did not give up his shares and does not intend to do so in the future.
Explaining his decision, Japaridze cited Article 10 of the parliament’s regulations, which does not prohibit an MP from owning shares but forbids them holding any other public office or engaging in entrepreneurial activity.
Japaridze has owned a controlling stake in POSTV since 2022. In his statement, he did not specify why he transferred management of the shares now, years later, or whether he believed he had been in violation of the law until then.
OC Media tried to contact Japaridze, but he has not responded by the time of publication.
Former Imedi owner Rukhadze also did not respond to questions sent by OC Media.
The UK imposed the same three sets of sanctions on both TV channels — ‘asset freeze, trust services sanctions, director disqualification sanction’ — meaning that all assets or properties held by the companies in the UK will be frozen, it will become illegal for UK citizens to help create or manage trusts for the companies, and the individuals running the companies will be barred from running any other UK-based company.
It is not yet clear how the sanctions might affect the two broadcasters. However, two of the country’s largest banks, TBC and Bank of Georgia, are listed on the London Stock Exchange.
Criticism of the sanctions was voiced by both Imedi and POSTV, with the ruling party and its associates also condemned the UK authorities for their decision.
Mikheil Gvadzabia
