Mr Ivanishvili, who made his fortune in Russia in the 1990s with stakes in metals, banking and then property, promised to rebalance relations with Moscow when he appeared before reporters on Tuesday.

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"Decisions made under our sole control, particularly in relations to our exposure to the property and construction sectors, negatively impacted our business, " it added.

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The agreement stands to greatly improve relations by encouraging greater transparency, accountability, property rights, and customs enforcement.

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There are no Davies on property the morning we visit, but the affable public relations manager appears with three bottles of fine post-breakfast sparkling wine.

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Since Ukraine's independence, their relations with the mainstream Orthodox Church have been marred by clashes over church property.

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