Electric networks of Armenia (ESA)

History

2025: Nationalization at the Russian owner

In early July 2025, the parliament Armenia adopted legislative amendments on the nationalization of the company "Electric Networks of Armenia," owned by a Russian businessman of Armenian origin. Samvelu Karapeteanu The power grid company is a monopolist in the distribution of electricity in the republic and is part of the group of companies. "Tashir"

According to Interfax, representatives of the ruling faction "Civil Contract" voted for the adoption of a package of amendments to the laws "On the body for regulating public services" and "On power." The parliamentary opposition sharply criticized the actions of the authorities.

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Фото: pastinfo.am

Opposition MPs called the initiative politically motivated and an attempt to seize a private company. They pointed to a lack of economic justification for forcibly seizing energy assets from a private owner.

The decision to nationalize followed the arrest of the company's owner Samvel Karapetyan. A court in Yerevan detained the businessman for two months on charges of calling for the seizure of power after his public statements on June 17, 2025.

Karapetyan told reporters that "a small group, forgetting Armenian history, the thousand-year history of the Armenian Church, attacked the Armenian Church, the Armenian people." Armenian Prime Minister Nikol Pashinyan regarded this statement as a threat to the state.

On June 18, 2025, Pashinyan in an interview announced plans to nationalize the Karapetyan-owned company "Electric Networks of Armenia." He linked this decision to the need to ensure the country's energy security.

Tashir Group of Companies announced the beginning of an investment dispute with the Armenian authorities. The Russian side intends to defend its rights through international arbitration mechanisms and bilateral agreements on the protection of investments.^[1]

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