Pashinian announced such plans on Wednesday morning as Russian-Armenian billionaire Samvel Karapetian was arrested and charged with calling for violent regime change after strongly condemning the premier’s campaign against the Armenian Apostolic Church. Pashinian said later in the day that a law on the nationalization of Electric Networks of Armenia (ENA) has already been circulated in the Armenian parliament.
“I think that experts and the faction of the [ruling] Civil Contract party are already holding discussions,” he told reporters. “There is already a draft law in the National Assembly answering all your questions: a draft law on nationalizing ENA.”
“At the moment, no such draft is being circulated in our committee,” said Sergei Bagratian, a pro-government member of the parliament committee on economic affairs. “It’s possible that it has not yet reached the National Assembly from the government.”
Arman Yeghoyan, who chairs another parliament committee and is also a senior Civil Contract member, seemed baffled by journalists’ questions about the bill mentioned by Pashinian.
“What is this about? Who said it?” Yeghoyan asked.
“Do you remember the quote correctly?” he said when reminded of Pashinian’s statement. “I'm not familiar with such a draft, to be honest. Maybe it's circulating in the government … I don't know.”
The Armenian government declined to clarify whether it is working on such legislation, referring all inquiries to the Ministry of Territorial Administration and Infrastructures. The ministry did not immediately reply to RFE/RL’s Armenian Service.
Armenia - People rally outside a court in Yerevan during a hearing on Russian-Armenian billionaire Samvel Karapetian's arrest, June 18, 2025.
Pashinian claimed that ENA must be confiscated by the state because of having created a “near energy crisis” in Armenia with the possible aim of increasing public discontent with the government. Critics dismissed the claim, saying he wants to seize the company for purely political reasons.
“I think that parochial interests are at play here: to remain in power by suppressing dissent and carrying out repressions,” said Tadevos Avetisian, an opposition parliamentarian and economist.
Like other opposition figures, Avetisian warned that ENA’s nationalization would be illegal and deal a serious blow to Armenia’s business reputation. No major company is known to have been nationalized in the country during its post-Soviet history.
Although Pashinian claims to have eliminated “systemic” corruption and created a level playing field for all businesses, no large-scale Western or other foreign investment projects have been launched in Armenia during his seven-year rule. Furthermore, his government is now facing massive lawsuits by a number of foreign investors who have done business in the country.
Karapetian’s Moscow-based Tashir Group acquired ENA from Russia’s RAO UES utility in 2015. It claims to have invested at least $680 million in Armenia’s aging power distribution network in the following decade. It says that it has also cut the network’s massive losses by more than half and saved some $30 million annually since 2016, allowing ENA to keep the electricity prices in the country unchanged.