ArmInfo. Russian businessman of Armenian origin Samvel Karapetyan has won a victory over the Armenian government in the international court in the case of nationalization of Electric Networks of Armenia (ENA) CJSC. This was reported by the council for the defense of Samvel Karapetyan.
"Samvel Karapetyan and his family won an urgent arbitration case against the government of the Republic of Armenia. The Karapetyan family initiated the consideration of the arbitration case at the Arbitration Institute of the Stockholm Chamber of Commerce in the manner prescribed by the Agreement on the Promotion and Protection of Investments signed on January 18, 1995 between the Government of the Republic of Armenia and the Government of the Republic of Cyprus. A representative of the Government of the Republic of Armenia also participated in the consideration of the case," the statement says.
It is emphasized that on July 22, 2025, the urgent arbitration institution of the Stockholm Chamber of Commerce obliged the Republic of Armenia to refrain from applying the provisions of the recently adopted RA Laws "On Energy" and "On the Public Services Regulatory Authority" to CJSC "Electric Networks of Armenia", as well as from further steps to seize it.
"The arbitration concluded that urgent protective measures were necessary, since the actions of the Republic of Armenia "raise serious doubts about compliance with the Agreement on Mutual Protection of Investments between Armenia and Cyprus."
The arbitration also noted that "in the absence of urgent protective measures, it will be difficult for the plaintiffs to receive full compensation for damages if they lose control over the company or, even worse, cease to be its owners."
The decision of the emergency arbitration is subject to mandatory execution by the Government of the Republic of Armenia," the statement says.
Earlier, the Armenian parliament adopted a package of legislative amendments aimed at nationalizing the ESA company owned by Tashir Group. It was later signed by the President of Armenia. This was followed by the appointment of Romanos Petrosyan as the acting head of the ENA from the Armenian government. He began his mission on July 21. And with his first decree, he fired the acting CEO of the ENA, David Kazinyan.
Phlanthropist and president of the Tashir Group of Companies Samvel Karapetyan was detained on the night of June 18 in Yerevan by law enforcement agencies of Armenia after he expressed support for the Armenian Apostolic Church. In response, this was followed by open threats from the Prime Minister. On the night of June 19, the Yerevan Court of General Jurisdiction arrested Samvel Karapetyan for two months. He is being held in the Yerevan-Kentron Penitentiary (the famous "KGB basement" in the building of the National Security Service of Armenia). He is accused of publicly calling for the seizure of power in the country. Karapetyan does not admit guilt.
