Russia Alleges Armenia's Corporate Raid on Russian Asset

TASS · world

Russia's Security Council alleges Armenian Prime Minister Nikol Pashinyan's team is attempting a corporate raid to nationalize Electric Networks of Armenia, owned by Russian businessman S. S. Karapetyan. A law allowing a temporary state administrator was passed by Armenia's parliament, but the Stockholm Arbitration Tribunal suspended it. The company is profitable, contributing around $30 million in taxes in 2025, playing a crucial role in Armenia's energy sector.