Ivanishvili to insist on his right to political life in Georgia

Billionaire Boris Ivanishvili lost his Georgian citizenship, but he insists that he will take part in the coming elections, Interfax reports.

The businessman says he abandoned his entrepreneurial activities and wants to engage in politics. Ivanishvili expressed his opposition towards President Mikheil Saakashvili.

The Georgian Justice Ministry reported that Ivanishvili lost his Georgian citizenship because he had become a citizen of France in 2004. Georgian law does not recognize dual citizenship.

The businessman describes accusations that he supports Russian interests as absurd. He noted that had not visited Russia for nine years.

Without citizenship, Ivanishvili cannot form a political party or be involved in the political life of the state in any way, including sponsorship of any party.

Ivanishvili takes 25th position among the richest people, with $5.5 billion-worth of assets, Forbes says. Georgian media say the 55-year old businessman lives in the village of Chorvila. He has a bank and 600 hectares of land, 300 of them vineyards.