Finance Ministry Seized AES-Telasi Accounts

(Tbilisi. April 1, 2003. Civil Georgia) – Georgian Finance Ministry seized on March 31 bank accounts of the US company AES-Telasi, which distributes electricity in the capital city Tbilisi.

The Finance Ministry claims the move follows US company’s failure to pay its taxes in the budget. According to the Finance Ministry the debt of the AES-Telasi consists 2,7 million Lari (USD 1,2 million).

As a result US company halted import of the electricity from Armenia, claiming the AES-Telasi has no sufficient finances.

The Finance Ministry’s decision to seize US company’s accounts will further tense its retaliations with the Georgian authorities.