Abkhazia Parliament Blocks Controversial Moscow Investment Deal

The Abkhazia parliament has voted against ratifying an investment agreement with Moscow after protests erupted last month. Opposition leaders fear the deal would enable wealthy Russians to buy local property. The region's president resigned amid the unrest, and elections are anticipated soon.

In a significant political development, the parliament of Abkhazia, a Russian-supported breakaway region from Georgia, has decisively voted against an investment pact with Moscow. This decision comes in the wake of widespread protests last month, which ultimately led to the resignation of the region's president, Aslan Bzhania.

According to footage published by Russia's official government outlet, Rossiyskaya Gazeta, the voting saw no support from deputies, with only three abstaining. The deal, if ratified, would have allowed Russian investors increased property rights in the picturesque Black Sea area, raising concerns about potential economic domination by outsiders.

Protests had erupted on November 15 in the capital, Sukhumi, marking a climax as demonstrators stormed the parliamentary building, demanding political change. Although Bzhania stepped down, the Kremlin expressed hopes for a swift return to stability. The contested agreement was initially signed late October by top Russian and Abkhaz officials.

(With inputs from agencies.)