UK Sanctions Three Georgia-Registered Companies for Russia Sanctions Evasion

The United Kingdom has sanctioned three Georgia-registered companies "operating Russia-focused exchanges seeking to evade sanctions," British authorities announced on May 26, 2026. The sanctioned entities — Arvix LLC, Rapira Group LLC, and Aifory LLC — were identified as part of a broader UK crackdown on crypto and illicit finance networks exploited by Russia to circumvent sanctions and fund its war in Ukraine.

Three Companies, Three Different Profiles

All three companies were formally registered in Georgia under Georgian law, though their actual operations were centered in Russia, according to the Investigation Service of the Finance Ministry.

Aifory LLC was registered in Tbilisi on June 22, 2023, with the National Agency of Public Registry listing Mikheil Gevorkiani as its owner as of 2024. Arvix LLC was registered on October 26, 2023, with director Davit Nutsubidze listed in public records and Tamaz Garaev reportedly the current owner. Rapira Group LLC was the earliest of the three, registered on November 9, 2022, under director Ilias Ahaevi, and according to May 2026 public registry data is currently undergoing liquidation proceedings.

The Investigation Service stated that an investigation into the companies had already produced "concrete legal consequences," noting that the firms' actual operations were not based in Georgia.

Georgian Court's Ruling: Fines and Prison Terms

On May 27, the Investigation Service of the Ministry of Finance provided additional detail on the case. The investigation established that Aifory LLC and Arvix LLC were "fictitiously registered in the names of other persons in exchange for a certain remuneration, while in reality they were operating in Russia, Moscow, and had no assets or offices in Georgia."

Under an April 28, 2026, court ruling, three defendants in the case received fines of 30,000 GEL (approximately USD 11,000) and suspended sentences. A fourth individual, Davit Jincharadze, identified as "the organizer of the crime," was sentenced to nine years and six months in prison.

Regarding Rapira Group LLC, the Investigation Service said the company had been registered under a power of attorney by a British citizen and "operated exclusively through the website rapira.net, serving only Russian citizens." The domain was "registered through a Russian registrar," while the company had no recorded bank turnover, assets, or offices in Georgia — making its registration, in the agency's words, "purely formal in nature."

National Bank of Georgia: No Supervision of These Entities

The National Bank of Georgia (NBG) clarified that the three sanctioned companies were not under its regulatory supervision. Under Georgian law, all individuals and companies operating crypto-related businesses must register as Virtual Asset Service Providers (VASPs) with the NBG and comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. As of the date of the announcement, 39 entities were registered as VASPs in Georgia.

The NBG stated that after it became aware in September 2025 that the companies were operating without relevant registration, it "provided information to law enforcement agencies and implemented appropriate supervisory measures."

Broader Context: UK Targeting Georgian Pro-Government Media

The May 26 sanctions announcement is not the UK's first action targeting entities with Georgian registration or connection. In February 2026, the UK sanctioned Georgian pro-government TV channels Imedi TV and PosTV, citing their role in spreading "deliberately misleading information" about Russia's full-scale invasion of Ukraine.

Additionally, two Georgia-linked individuals — former Prosecutor-General Otar Partskhaladze and right-wing political figure Levan Vasadze — are under British sanctions, citing their support for Russia's war in Ukraine.

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