Karapetyan does not intend to hand over Electric Networks of Armenia to the state
The owner of Electric Networks of Armenia, Samvel Karapetyan, stated that he does not intend to hand the company over to the state.
He said this while commenting on Prime Minister Nikol Pashinyan's statement that the state would transfer Electric Networks of Armenia into the trust management of a private company.
"In order to hand the company over to management, they (the authorities - ed.) must first take it away. One should not forget about the existence of courts - both domestic and international," Karapetyan said, adding that he would fight for Electric Networks, Sputnik Armenia reports.
The businessman recalled the ruling in which the arbitration court called for refraining from further steps to seize the assets of Electric Networks.
At the same time, Samvel Karapetyan denied statements by representatives of the current authorities that the company had inflated electricity bills for state institutions and the army, thus profiting off the country's citizens. In particular, Karapetyan stated that the company has already been under state management for more than a year, yet no evidence of these claims has been presented.
Since 2016, the Electric Networks of Armenia CJSC has belonged to the Tashir group of companies, founded by Russian-Armenian businessman Samvel Karapetyan. The prime minister, Nikol Pashinyan, announced the intention to nationalize the company after a search of the businessman's home and his arrest in the summer of 2025.
Later, parliament passed a law allowing the appointment of a temporary state manager. In August, Tashir Capital challenged both the law itself and the appointment of Romanos Petrosyan in the Administrative Court, and also appealed to the Stockholm arbitration court. On July 22, 2025, the arbitration court suspended the corresponding decisions and called for refraining from further steps to seize the assets. However, the government of Armenia stated that this decision is not binding, citing the priority of national legislation. Already on November 17, Tashir Capital lost its license to manage Electric Networks of Armenia.
After that, the prime minister stated that the state was considering the possibility of buying out the company. The options under discussion include both the transfer of Electric Networks of Armenia to direct state management and handing the company over to an international operator.
