Protecting Russian business interests abroad is a priority: Zakharova on situation with ENA and Samvel Karapetyan
YEREVAN, November 20. /ARКА/. Russia is closely monitoring the situation surrounding the Electric Networks of Armenia (ENA) company and Tashir Group President Samvel Karapetyan, said Russian Foreign Ministry spokesperson Maria Zakharova, adding that protecting Russian business interests abroad is an absolute priority for Moscow.
"Moscow and Yerevan have set up intergovernmental channels to address such matters. Regarding the company itself, Electric Networks of Armenia CJSC has been a dominant entity in the energy market of the country for the past decade, providing employment for two hundred thousand individuals and consistently fulfilling tax obligations," she remarked during a press briefing on Thursday.
She noted that a decade ago, when Samvel Karapetyan took control of Electric Networks, he used his personal finances to bridge the energy tariff gap for households and small enterprises, in collaboration with the Armenian government.
"Between 2017 and 2023, the company invested nearly $700 million, which included funds for infrastructure improvements. Specifically, $680 million were allocated. Furthermore, investments totaling $795 million are projected for the period from 2024 to 2034," Zakharova stated, expressing optimism that the new management appointed by Armenia will be capable of implementing a more effective management strategy, while adding that "judgement should be grounded in tangible actions."
On November 17, Armenia's Public Services Regulatory Commission (PSRC) approved the revocation of ENA (owned by Samvel Karapetyan's Tashir Group)'s electricity distribution license. The Commission cited violations discovered during the four-month investigation as the basis for this revocation, including falsifications, deficiencies, and other falsifications of electricity meter readings, violations in the implementation of investment programs, violations of deadlines and procedures for connecting new subscribers, and violations of building and fire safety regulations during the construction and renovation of certain facilities.
The Commission claims that ENA provided risky credit guarantees through commercial banks to a number of companies affiliated with it. Alo, it ineffectively managed property, real estate, and cash.
According to Mesrop Mesropyan, head of the PSRC, the state will now negotiate with the owner or the ENA Board of Directors the transfer of ownership rights to the property.
"If the parties fail to reach an agreement within three months, the state may take over the property based on its priority interest," Mesropyan noted.
ENA representatives disagree with the presented findings, questioning the accuracy of the results of the PSRC's research, as well as the quality of the audits and assessments.-0-
