YEREVAN, July 23. /TASS/. Russian businessman Samvel Karapetyan and his family have won an emergency arbitration case against the government of Armenia regarding the nationalization of the Electric Networks of Armenia company, Council for the Protection of Samvel Karapetyan said on Facebook (banned in Russia, owned by Meta, a company recognized as extremist in Russia).
"On July 22, 2025, the urgent Arbitration Institute of the Stockholm Chamber of Commerce ordered the Republic of Armenia to refrain from applying the provisions of the recently adopted laws of the Republic of Armenia "On Energy" and "On the Public Services Regulatory Authority" to the closed joint stock company "Electric Networks of Armenia," as well as from further steps to withdraw the closed joint-stock company "Electric Networks of Armenia,'" the statement says.
Background
Earlier, Armenian Prime Minister Nikol Pashinyan did not rule out nationalizing the company if, as he put it, it did not compensate for the damage caused to the Armenian people by June 21. Later, the Armenian Public Services Regulatory Commission said it had issued a fine of ten million drams (about $26,000) to the Electric Networks of Armenia over the violations. An Electric Grids source told TASS they did not know what kind of damage they were talking about, and the government did not provide it with details.
On July 8, Armenian President Vahagn Khachaturian signed the law on the nationalization of Electric Networks.
On June 18, the Main Directorate for Combating Organized Crime of the Armenian Interior Ministry arrested Samvel Karapetyan, President and founder of the Tashir Group of Companies, for two months. He is charged with publicly calling for the overthrow of the government.