Moscow-based Georgian billionaire stripped of Russian citizenship

The Russian authorities have deprived Bidzina Ivanishvili, a Georgian-born billionaire living in Russia, of his citizenship at his request, as he wishes to challenge incumbent Georgian President Mikheil Saakashvili\'s party in next year\'s parliamentary elections. Ivanishvili, who is ranked 25th by Forbes in its list of Russian businessmen with an estimated fortune of $5.5 billion, announced his plan in October to create a political party uniting \"healthy\" political forces in Georgia with the goal of achieving an absolute majority in the 2012 elections. However a few days later, the Georgian authorities stripped the billionaire, who has Russian and French passports, of his citizenship. Georgia does not allow dual citizenship. As Ivanishvili has no Georgian passport he cannot set up any political parties and cannot run for parliament. Ivanishvili said he was ready to give up his Russian and French citizenships in order to implement his political plan. On October 17, he filed a request to the Swiss embassy representing Russian interests in Georgia, asking the Russian authorities to take back his passport. “Bidzina Ivanishvili received an official document cancelling his Russian citizenship on Monday ,” the businessman’s press office said in a statement issued on Monday. “Currently, Ivanishvili has only French citizenship.” The businessman has also filed an appeal against Saakashvili\'s decree to strip him of his Georgian citizenship. The court decision is due later on Tuesday.