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Family Linked to Russian Military Intelligence Launches Georgia’s First Oil Refinery
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![Photo of Ivan Khomenko]( "Photo of Ivan Khomenko")
Georgia’s first oil refinery has been launched by a family with business ties to senior figures in Russia’s military intelligence, according to an investigation by Proekt on October 24.
The refinery, located near the oil terminal in Kulevi, began operations in early October. Construction of the facility started in 2024 and is planned to proceed in six stages over three to four years.
According to Proekt, the project’s total investment is estimated between $600 and $700 million, with partial financing from Georgia’s state-owned Development Fund. Georgian Prime Minister Irakli Kobakhidze attended the project’s presentation in October 2024.
The plant is being built by Black Sea Petroleum, a company established specifically for this purpose in 2022.
Its founder and principal shareholder is Maka Asatiani, a Georgian entrepreneur who previously worked as a fashion designer and co-owned the official Mercedes-Benz dealership in Georgia.
According to Proekt, Asatiani’s son from her first marriage, Kakha Zhordania, has been involved in the oil trade sector in Russia. From 2016 to 2023, he owned the Russian oil trading company Oil Energy Group, which at one point generated annual revenues of up to 17.5 billion rubles (approximately $250 million).
Since 2018, he has held a 25% stake in SDO-Logistic, a firm specializing in the transportation of oil products.
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Zhordania’s business partner and majority shareholder of SDO-Logistic (51%) is Sergey Alekseev, identified by Proekt as the son of Lieutenant General Vladimir Alekseev, First Deputy Head of the Main Directorate of the Russian General Staff—commonly known as the GRU.
Earlier, Reuters reported that Russia sent its first shipment of crude oil to Georgia’s newly launched Kulevi refinery on October 6, delivering over 105,000 tons of Siberian Light crude via a tanker linked to the so-called “shadow fleet.”
The plant’s initial capacity is projected at 1.12 million tons of crude per year, with plans to expand production to nearly 4 million tons once all stages of construction are complete.
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