The Armenian government adopted a resolution concerning Electric Networks of Armenia CJSC on October 15, 2026. The resolution concerns possible nationalization, not a completed transfer of the company to state ownership. Tashir Capital's statement became public on October 19.
Tashir Capital is owned by Samvel Karapetyan, leader of the opposition Strong Armenia party. He was held in custody in Armenia from June 18 to December 30, 2025.
An international arbitration tribunal ordered the Armenian authorities to refrain from confiscating Electric Networks of Armenia. The investor, who was in custody, and his family initiated arbitration proceedings over the company's expropriation in 2025.
Tashir Capital says state authorities have repeatedly violated the interim measures ordered by the tribunal. The company cites the revocation of Electric Networks of Armenia's license in November 2025 as an example.
The company accuses the government of disregarding and directly violating its obligations under international law arising from the foreign investment protection rules Armenia has adopted. In the company's view, the state will have to compensate the investors for the damage caused.