Karapetyan's Electric Networks of Armenia to be fully nationalized - Pashinyan
YEREVAN. March 5 (Interfax) - The Armenian government has approved full nationalization of the Electric Networks of Armenia (ENA) company owned by businessman Samvel Karapetyan.
"A decision [on 100% nationalization] derives from a preliminary expert appraisal of the market value of the Electric Networks of Armenia company. This decision will not seriously burden the state budget," Armenian Prime Minister Nikol Pashinyan said at a press briefing after a government meeting on Thursday.
He withheld other details.
In November 2025, the Armenian Public Services Regulatory Commission withdrew the electricity distribution license of ENA. Commission Chairman Mesrop Mesropyan said the government would be in talks with the ENA Board of Directors on transferring property titles until the end of February 2026.
Pashinyan said earlier he considered ENA's full nationalization to be the best option.
Russian businessman with Armenian origins, Tashir Group President Karapetyan is under house arrest in Yerevan.
The Strong Armenia party nominated him for Armenian prime minister to be chosen after the parliamentary elections due in June.
On June 18, a court in Yerevan arrested Karapetyan on the charge of inciting an overthrow of the government. On October 13, Karapetyan faced further charges of laundering large sums of money through the use of his position or office, or related influence.
On June 17, Karapetyan's home in Yerevan was surrounded by law enforcement officers after he told reporters that "a small group, forgetting Armenian history, the thousand-year history of the Armenian Church, attacked the Armenian Church and the Armenian people." "I have always stayed together with the Armenian Church and the Armenian people. If the politicians fail, we will intervene in the campaign against the church in our own way," Karapetyan said then.
In an interview with journalists on June 18, Armenian Prime Minister Nikol Pashinyan called this statement a national threat. He also said that the ENA company owned by Karapetyan would be nationalized.
