Conflict in Georgia will affect the Eastern-European economy - by Sandra Taimre
Evli Securities strategist Peeter Koppel said that the actions in Georgia affect the Eastern-European stock and currency markets, crude oil price has stood untouched so far. He admitted that the Baku-Tbilisi-Ceyhan oil pipe is under question but this would affect the oil market less and rather emotionally, Koppel told postimees.ee. According to Koppel the Russian actions may scare away the capital form Eastern-Europe. One of the businessmen who have invested in Georgia is Mati Väärtnõu, CEO of Kellakeskus Ltd. He says that he may now lose his investment of about one million kroons that he made in a jewellery and fashion store in Thbilisi, capital of Georgia. “We have a valid rent contract by the end of the year,” he said. Robert Antropov, chairman of Paldiski Port, said that the war in Georgia will affect the country’s economy and force out foreign investors.
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