(Read full article on civil.ge)

A new report by the Transparency International (TI) Georgia, a local corruption watchdog, said that the ruling Georgian Dream party founder and billionaire Bidzina Ivanishvili is the beneficial owner of at least one company in Russia, while his inner circle continues to do business with a U.S.-sanctioned former KGB general.

Ivanishvili owns the firm in question, Aqua-Space Ltd., through his offshore company Vanity Overseas Ltd., TI Georgia said. The Aqua-Space is currently active and operates in the commercial property, buying and selling, as well as renting and managing non-residential buildings, according to the report.

The document noted that Olga Borovikova has served as the General Director of the company. She also serves as the director of Dolgovoe Agentstvo, a legal successor of Unicor, a company founded by Ivanishvili to manage his assets in Russia, the watchdog added.