Samvel Karapetyan Rules Out Sale of Electric Networks of Armenia
11.09.2026,
20:19
Samvel Karapetyan, leader of the Strong Armenia party and president of the Tashir Group of Companies, announced that Electric Networks of Armenia (ENA) CJSC is not for sale.
YEREVAN, September 11. /ARKA/. Samvel Karapetyan, leader of the Strong Armenia party and president of the Tashir Group of Companies, announced that Electric Networks of Armenia (ENA) CJSC is not for sale.
On September 9, the Ministry of Territorial Administration and Infrastructure of Armenia submitted for public discussion a draft government resolution recognizing 100% of ENA shares as an object of overwhelming public interest. According to the draft, the transfer of ENA to the state is expected to be completed by October 2027.
"They (the Armenian government - ed.) have already realized that they cannot manage ENA. Now, overcome with jubilation, they are looking for people who can do it. (If) such people exist, let them take over and manage it," Karapetyan noted at a briefing on Friday.
Responding to a question about the possible sale of ENA to a foreign owner, Karapetyan said that they first need to be able to return the company to sell it.
"We can sell it, but we won't sell it. ENA is not for sale. They didn't recognize the existence of public interests and postponed the issue until next year," Karapetyan stated.
On the status of ENA
On July 3, 2025, the Armenian Parliament adopted legislative amendments allowing the state to intervene in the management of Electric Networks of Armenia CJSC. Since July 18, 2025, Romanos Petrosyan has been the interim manager of ENA.
Armenian Prime Minister Nikol Pashinyan previously stated that ENA has already been de facto nationalized, and the company will subsequently become state-owned and placed under trust management.
About the Electric Networks of Armenia and the Criminal Case of Samvel Karapetyan
Electric Networks of Armenia JSC manages the medium and low-voltage distribution networks in the country, serving approximately 1 million customers.
Since 2016, the Tashir Group of Companies has owned the Electric Networks of Armenia. According to the group, approximately $680 million has been invested in network modernization since then, with an additional $150-200 million invested in the creation of new capacity.
Karapetyan was detained on June 18, 2025, and subsequently arrested, initially on charges of publicly calling for the seizure of power after making a statement in support of the Armenian Apostolic Church. During the investigation, he was also charged with tax evasion, embezzlement, money laundering, and illegal entrepreneurship.
Karapetyan denies guilt. His defense claims the criminal prosecution is politically motivated.
On September 9, the Ministry of Territorial Administration and Infrastructure of Armenia submitted for public discussion a draft government resolution recognizing 100% of ENA shares as an object of overwhelming public interest. According to the draft, the transfer of ENA to the state is expected to be completed by October 2027.
"They (the Armenian government - ed.) have already realized that they cannot manage ENA. Now, overcome with jubilation, they are looking for people who can do it. (If) such people exist, let them take over and manage it," Karapetyan noted at a briefing on Friday.
Responding to a question about the possible sale of ENA to a foreign owner, Karapetyan said that they first need to be able to return the company to sell it.
"We can sell it, but we won't sell it. ENA is not for sale. They didn't recognize the existence of public interests and postponed the issue until next year," Karapetyan stated.
On the status of ENA
On July 3, 2025, the Armenian Parliament adopted legislative amendments allowing the state to intervene in the management of Electric Networks of Armenia CJSC. Since July 18, 2025, Romanos Petrosyan has been the interim manager of ENA.
Armenian Prime Minister Nikol Pashinyan previously stated that ENA has already been de facto nationalized, and the company will subsequently become state-owned and placed under trust management.
About the Electric Networks of Armenia and the Criminal Case of Samvel Karapetyan
Electric Networks of Armenia JSC manages the medium and low-voltage distribution networks in the country, serving approximately 1 million customers.
Since 2016, the Tashir Group of Companies has owned the Electric Networks of Armenia. According to the group, approximately $680 million has been invested in network modernization since then, with an additional $150-200 million invested in the creation of new capacity.
Karapetyan was detained on June 18, 2025, and subsequently arrested, initially on charges of publicly calling for the seizure of power after making a statement in support of the Armenian Apostolic Church. During the investigation, he was also charged with tax evasion, embezzlement, money laundering, and illegal entrepreneurship.
Karapetyan denies guilt. His defense claims the criminal prosecution is politically motivated.
