Impact of Russian/Georgian War on Israeli Investments
Source: http://israelnewsletter.com/2008/08/12/impact-of-russiangeorgian-war-on-israeli-investments/Posted on Tuesday, August 12th, 2008 | In Israel, Market Commentary
Believe it or not but the current turmoil taking place in South Ossetia, and the capital, Tskhinvali is impacting Israeli businessman as well. According to report in Globes, ” The former Georgian ambassador to Israel estimates that Israeli real estate, defense, and other investment in Georgia exceeds $1 billion, and that the Russia-Georgia war is putting these investments at risk.”
Tourists have started returning to Israel and companies located in the surrounding areas have begun to evacuate their employees. Israel has come under pressure over the last 24 hours to halt arms sales to Georgia. The Jpost reports that actually, Israel halted shipments of arms a couple of months ago as the government sensed that conflict was imminent. According to an Israeli defense official, the article quotes: “Several months ago, we carried out an evaluation of the situation in Georgia and realized that Georgia and Russia were on a collision course. We have good relations with both, and don’t want to back either in this conflict,” the official said. “We therefore made a decision to drastically minimize sales of weapons to Georgia.”
Israel has successfully forged very good relations with both Russia and Georgia. Let’s hope that this current conflict doesn’t change that.
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Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
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 About Aaron Katsman (http://israelnewsletter.com/)
Aaron is a managing director and the senior portfolio manager of America Israel Investment Associates, Israel Growth Portfolio (www.israelgrowth.com) where he manages a portfolio of Israeli stocks that trade in the US. He is also president of the Global Investments for Profile Investments. Aaron is a frequent contributor to StraightStocks.com, focusing on Israeli stocks. He was a founder and managed the private banking group for Citigroup in Israel for three and a half years. From 1999-2001, he was a senior analyst at a leading Israeli venture capital fund, where he gained an intimate working knowledge of the Israeli hi-tech scene. Aaron holds a B.A. in Political Science from Yeshiva University in New York. He is licensed as an investment advisor by the Israel Securities Authority and holds NASD series 7, 63, 65 in the US. |
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