Russia accuses Armenian government of attempting to nationalize private energy assets

Alexey Shevtsov, Deputy Secretary of the Russian Security Council, has accused Armenian Prime Minister Nikol Pashinyan’s administration of attempting to nationalize Hayastan Electric Networks. The company is owned by Samvel Karapetyan, a prominent businessman and political opponent of the current Armenian leadership.

Shevtsov characterized the government's actions as a ‘raid seizure,’ noting that while the Armenian Parliament passed laws allowing for the appointment of temporary state managers, the Stockholm Arbitration Court has suspended that decision. He argued that the government is selectively ignoring international opinions to deprive opposition leaders of their assets.

According to Shevtsov, the company is a significant contributor to the national economy, with projected tax payments of approximately $30 million in 2025. He warned that the administration may be attempting to devalue Russian assets to force sales, suggesting that Russian industrial and infrastructure enterprises in Armenia could be the next targets, which he claimed would harm the Armenian economy and its workforce.