TBILISI, July 5. /TASS/. The Georgian economy would lose $2.5 bln if the country imposed sanctions against Russia because of the situation in Ukraine, Chairman of the ruling Georgian Dream - Democratic Georgia political party Irakli Kobakhidze told reporters.

"If we imposed sanctions, our country would lose at least $2.5 bln. How can you take such step?" he said.

On February 25, 2022, Georgian Prime Minister Irakli Garibashvili announced that he did not plan to impose sanctions against Russia, explaining this by national interests. The country's authorities have repeatedly stated that the imposition of sanctions against Russia would not only cause significant economic damage to Georgia, but could also provoke a military confrontation.

Georgian Prime Minister Irakli Garibashvili said earlier that any imposition of economic restrictions on Russia by Tbilisi would represent a betrayal of the interests of Georgia and the Georgian people.

"The introduction of so-called sanctions and any type of restrictions, the closing of trade and the economy and so forth, would be a completely reckless step. Furthermore, this could be termed as a betrayal of the interests of our homeland and its people," the Georgian prime minister stated.

The Georgian people would suffer from putting a sanctions regime into effect, Garibashvili said. "If somebody suffers, our country, our people would suffer. We would be unable to live so confidently. We would have no economic growth, no development, nor jobs," he noted.

Garibashvili announced on February 25, 2022 that he had no plans to impose sanctions on Russia, explaining that introducing anti-Russian sanctions would not serve the Georgian national interest. The Georgian authorities have repeated on numerous occasions that sanctions against Russia would not only inflict significant economic harm on Georgia but could even provoke a military confrontation.