The U.S. president appeared to nuance a Western response, making a distinction between “a small incursion” and a full-blown invasion.

Commercial banks reported a total net profit of 2.081 billion lari ($674 million) from January to December 2021 compared to a profit of 99.3 million lari in 2020.

SOFAZ sovereign wealth oil fund holds proceeds from oil contracts, oil and gas sales, transit fees and other revenue.

The nine-year loan agreement was signed on December 22 and will be used to build new elevators for storing grain and oilseeds.