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The Parliament of Armenia approved the nationalization of energy assets of Russian billionaire Samvel Karapetyan

2025.07.03

In early June, Karapetyan was arrested on charges of inciting to seize power

The Parliament of Armenia, in the second and final reading, approved amendments providing for the possibility of nationalizing CJSC «Electric Networks of Armenia» (ENA) — a company owned by Russian businessman of Armenian origin Samvel Karapetyan, reports «Armenpress». 65 deputies voted «for», 27 — «against», with no abstentions. The amendments concern the laws «On Energy» and «On the Public Services Regulatory Commission», initiated by the ruling faction «Civil Contract».

The adopted changes empower the Public Services Regulatory Commission to intervene in the management of energy companies in case of violations. In particular, the commission can temporarily remove owners from management and appoint an external manager with at least five years of experience in the field of energy or management. In addition, there is a provision for the forced sale of the enterprise, with the state receiving the priority right to purchase it.

Karapetyan was arrested on June 8 in Yerevan on charges of inciting to seize power. After this, Prime Minister Nikol Pashinyan called for the nationalization of the businessman-owned CJSC «Electric Networks of Armenia».

On June 24, Karapetyan was transferred to the detention center of the National Security Service in Yerevan.

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