The agency said that the CIS sovereigns could be affected given their economic, financial and energy ties with Russia, as well as their generally weak liquidity and external positions.

In 2021, gross domestic product (GDP) grew by 2.3 percent after contraction by 0.9 percent in 2020.

TBC Bank is one of Georgia's two biggest commercial banks and is listed on the London Stock Exchange.

The $1 million round was completed by a group of eight venture capitalists and investment funds based in various countries, including the U.S., Uzbekistan, Kazakhstan, and Singapore.

It was not immediately clear whether Moscow's forces had formally moved into the parts of Ukraine’s Donetsk and Luhansk region controlled by separatists – most analysts and Ukrainian officials have said that some Russian forces have long been informally established inside them.