Armenia to nationalize power grid owned by jailed Russian businessman
The Armenian National Assembly has adopted a draft law allowing for the nationalization of a major electricity provider owned by businessman Samvel Karapetyan, who was arrested last month on charges of calling for the overthrow of the government.
Karapetyan, who owns the Electric Networks of Armenia (ENA), holds Russian and Armenian citizenship and has a net worth of some $5 billion. His detention came after he voiced support for the Armenian Apostolic Church (AAC) in its conflict with the country’s authorities, led by Prime Minister Nikol Pashinyan.
The standoff began when Pashinyan accused the AAC of corruption and called on its leader, Catholicos Garegin II, to resign, citing alleged moral misconduct. The AAC rejected the accusations and claimed the government was acting under the influence of “Armenophobic” foreign forces.
In a statement earlier this week, Karapetyan described Armenia as “surrounded by hostile nations” and said it had become “a center of geopolitical conflict.” He denounced the government’s “exceptional political incompetence,” particularly its move to distance the country from Russia.
A heated altercation broke out during Thursday’s debate in the National Assembly, when independent MP Hovik Aghazaryan alleged that the legislation was designed to stoke anti-Russian sentiment.
Karapetyan’s detention has triggered criticism from prominent members of the Armenian diaspora and the Orthodox Christian community, both at home and abroad.
Kremlin spokesman Dmitry Peskov said Moscow would assist Karapetyan if needed. “For us, he is a Russian citizen,” Peskov told reporters last week, while adding that Russia did not wish to interfere in Armenia’s internal affairs.
Lawmakers passed the bill on Thursday in its second and final reading, with 65 votes in favor and 27 against. For the law to come into force, it must be signed by the president.
