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Armenian tycoon's arrest clears way for nationalizing power grid — lawyer

Aram Vardevanyan expressed hope that the actors involved in this realize that they could face political backlash for the move

YEREVAN, July 2. /TASS/. Russian-Armenian businessman Samvel Karapetyan was arrested in Yerevan to keep him from interfering in the government takeover of energy company Electric Networks of Armenia CJSC, his lawyer, Aram Vardevanyan, argues.

"No procedural actions are being taken now, they simply needed to arrest Samvel Karapetyan so that he could not intervene in the affairs of Electric Networks," the lawyer said at a news conference in Yerevan. "I can say that my information comes from a direct pledge given by the Armenian head of government [Nikol Pashinyan] on June 17. And am I in a position to make such a claim? I think I am," he continued.

The Armenian authorities needed to take Karapetyan out of the picture so that no one would stop them from sinking their hooks into Electric Networks, Vardevanyan emphasized. He also expressed hope that the actors involved in this realize that they could face political backlash for the move.

Earlier, Pashinyan did not rule out assuming control of the company unless it repays what he called damage done to the Armenian people by June 21, without elaborating. At a government meeting on June 26, the Armenian prime minister said "a bill to nationalize Electric Networks is ready and the company will soon be taken over by the government." Moreover, news came that parliament held an extraordinary session on July 1 to consider the issue. Earlier on Wednesday, Armenian lawmakers adopted the first reading of the takeover bill.

The billionaire was detained by police on June 18 for allegedly calling for overthrowing the government. He denied the accusations. A court in Yerevan ruled to place him under arrest for two months. Following that, inspections into his businesses were launched and a number of Tashir Pizza restaurants in Yerevan and Armenian regions were closed.

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