The president of Abkhazia, a Moscow-backed breakaway republic within Georgia, has stepped down following a tense political standoff over a controversial investment agreement with Russia.

Opposition demonstrators had occupied government buildings in the capital Sukhumi since November 15, following mass protests that started when Abkhazia’s parliament was expected to ratify the investment agreement. 

The opposition argued that the deal compromised Abkhazia's already limited autonomy in relation to Moscow. Protesters demanded President Aslan Bzhania’s resignation and the scheduling of early elections.

"In order to preserve stability and uphold constitutional order in the country, I resign," Bzhania stated in a signed document shared on his press office’s Telegram channel after negotiations with opposition leaders on November 18.

Bzhania agreed to step down on the condition that protesters vacate the parliament building in Sukhumi.

Tensions had been escalating for weeks, with protesters demanding Bzhania’s departure, calling for fresh elections, and occupying key infrastructure in opposition to the deal, which would allow wealthy Russians to purchase property in Abkhazia. 

As well as the protests and occupation of government buildings and other sites, there were reports of a violent incident outside the Abkhazian State Television and Radio Company (AGTRK) on November 17. According to the presidential press service’s Telegram account, unidentified individuals in 15 vehicles fired near the AGTRK building, allegedly attempting to seize control of broadcasts.

Bzhania, who briefly left Sukhumi for his hometown Tamysh after protesters stormed the parliament, returned over the weekend. 

He met with top government officials on November 18, as well as chairing a meeting of the Security Council at which the situation and measures to stabilise it were discussed, according to a presidential statement.

Bzhania also instructed officials to ensure ministries and government departments continue to function as far as possible, and to ensure a stable energy supply and the functioning of social infrastructure. 

The de facto government has framed the protests as an attempted coup. The Ministry of Foreign Affairs issued a statement on November 17 describing the events as “damaging to the international image of our country” and harming relations with Russia, its principal ally.

The controversial investment agreement that ignited the protests is seen by critics as part of Russia’s growing influence in Abkhazia. While the opposition strongly opposed the deal, it was careful to stress its commitment to Abkhazia’s alliance with Moscow, which has backed Abkhazia since it broke away from Tbilisi's control over 30 years ago.