Armenia nationalizes power grid owned by imprisoned Russian tycoon
(MENAFN) Armenia’s National Assembly has approved a draft law enabling the nationalization of Electric Networks of Armenia (ENA), a major power provider owned by billionaire businessman Samvel Karapetyan, who was arrested last month on charges of inciting the overthrow of the government.
Karapetyan, a dual citizen of Russia and Armenia with an estimated net worth of $5 billion, was detained after publicly backing the Armenian Apostolic Church (AAC) amid its dispute with Prime Minister Nikol Pashinyan’s government. The conflict erupted when Pashinyan accused the church of corruption and demanded the resignation of its leader, Catholicos Garegin II, citing alleged immoral behavior. The AAC dismissed the claims, accusing the government of being influenced by anti-Armenian foreign forces.
Earlier this week, Karapetyan criticized Armenia’s leadership as “politically incompetent” and warned that the country, surrounded by hostile neighbors, was being drawn deeper into geopolitical tensions, particularly due to its efforts to distance itself from Russia.
During Thursday’s heated parliamentary debate, independent MP Hovik Aghazaryan accused the government of using the legislation to fuel anti-Russian sentiment.
Karapetyan’s arrest has drawn criticism from Armenian diaspora figures and Orthodox Christian communities worldwide. In response, Kremlin spokesman Dmitry Peskov said Moscow would offer assistance if necessary, emphasizing that Karapetyan is a Russian citizen, but stressed Russia would not interfere in Armenia’s internal affairs.
The bill passed with 65 votes in favor and 27 against. It now awaits the president’s signature to become law.
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