Trump's circle is expanding business in post-Soviet countries - Bloomberg

U.S. President Donald Trump and his family and associates are expanding their business interests in the Caucasus and Central Asian countries, in post-Soviet states. The projects include real estate, mineral extraction and transportation. Bloomberg reports, according to UNN.

Details

"Projects in the Caucasus and Central Asia linked to his family and associates encompass luxury real estate, critical minerals and transportation, from what is set to become Georgia's tallest tower to a tungsten mine in Kazakhstan and a new trade route connecting Armenia and Azerbaijan. Donald Trump and his entourage are expanding their business interests in a region where his administration is seeking to deepen its own economic influence," the publication writes.

A 280-meter Trump Tower Tbilisi is planned for construction in Tbilisi. The tower is to become the centerpiece of a $2 billion project.

"Every time we come to a place, others follow us," said Eric Trump, executive vice president of the Trump Organization and the U.S. president's son.

The Trump Organization also said it considers Tbilisi a promising international business and investment destination.

"We are incredibly excited about Georgia, and Tbilisi in particular, which we believe has tremendous potential as an international business and investment destination," said a Trump spokesperson

As the publication notes, the initiative is the latest example of deals being struck in parallel with Washington's efforts to strengthen economic and diplomatic ties in the region, increasing the region's attractiveness for the private investments made by the president's family connections.

"It also means that Washington is competing for influence amid intensifying competition with Russia, China and increasingly the European Union," the publication writes.

Recall

According to a financial report, the U.S. president received nearly $800 million from the World Liberty Financial crypto project and $635 million from the sale of memecoins. This became his largest source of income.