Anaklia Development Consortium Responds to Ruling of Tbilisi City Court Regarding Principal Investors Mamuka Khazaradze and Badri Japaridze This is simply a continuation of the political vendetta carried out by Georgian Dream in its effort to kill the Anaklia Deepwater Port Project.

The following statement was issued today by the Anaklia Development Consortium (ADC) following the 12 January ruling of the Tbilisi City Court
“After three years of political persecution against Mamuka Khazaradze and Badri Japaridze, the Tbilisi City: Court has rendered a judgment designed to keep a cloud of baseless criminal charges hanging over their heads. The prosecution of Messrs.

Khazaradze and Japaridze has always been about politics and killing the
Anaklia Deepwater Port Project “The judgment is simply an attempt at political face-saving by the judiciary and the Government. It is true that
the Court has discarded the money laundering charges; however, the Court has also arbitrarily replaced them with a finding of fraud without the authority to make such a finding.

There is no basis under the law for this action by the Court. This outcome is a farce as Messrs.

Khazaradze and Japaridze were tried of one crime but convicted of another which was never presented by the prosecutor. For ADC’s part, this judgment is further proof that the ruling party remains intent on either killing the Anaklia port project outright or ensuring that it cannot proceed with the involvement of ADC’s investors.
“The international community will no doubt take note of the judgment. The original charges against Messrs. Khazaradze and Japaridze were ridiculous on their face and lacked any legitimacy as demonstrated by separate
and independent findings of the Public Defender’s Office and Transparency International-Georgia. However, that did not stop the Government from attempting to interfere with the judicial process nor prevent the many
irregularities in the Government’s prosecution.

“This is a continuation of the political persecution of Messrs. Khazaradze and Japaridze which caused material damage to ADC’s efforts to develop the Anaklia project, leading to the Government’s illegal termination of the
project and the ensuing arbitration claims. Unfortunately, this latest mockery of justice goes a further step towards ensuring no reputable international finance groups will invest into the project.

“The collateral damage of this action by the court is clear: In pursuing this political vendetta and undermining the future of the Anaklia Port project, the Georgian Dream Government has also driven away direct foreign
investment and caused harm to the Georgian economy. This is a continuation of the charade promoted by the Government to deceive the investment community, the EU and US governments and its own citizens about its true intentions related to the Anaklia Port project.

Despite its feigned support for a port at Anaklia, the Government’s actions over the past three years have shown it to be actively stalling or opposing any progress toward a the long-awaited deepwater port project. This judgment only serves to delay further the day when Georgia may have a deep water port at Anaklia.”

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