A move by the European Union to sanction one of Russia’s biggest energy companies could have severe consequences for Georgia’s power supply, experts say. The European Union added Russian energy company Inter RAO to its sanctions list two weeks ago. In addition, Inter RAO was still active in Finland and the Baltic states at the beginning of the war. They are both largely owned by Inter RAO: the latter’s subsidiary Silk Road Holdings owns about 75% of both of them. However, the Telmico and Telasi 2025 annual reports still clearly state that the ultimate beneficial owner is Inter RAO.