Moscow is monitoring the legitimate interests of Russian companies in Armenia — Galuzin
18.09.2026,
18:44
Moscow is closely monitoring the legitimate interests of Russian economic operators in Armenia, stated Russian Deputy Foreign Minister Mikhail Galuzin.
YEREVAN, September 18. /ARKA/. Moscow is closely monitoring the legitimate interests of Russian economic operators in Armenia, stated Russian Deputy Foreign Minister Mikhail Galuzin.
"We regularly raise the issue of operating conditions for Russian businesses in Armenia in our contacts with the Armenian side. We have been assured at various levels that domestic investments are not at risk. However, as we see, these statements do not entirely align with reality," Galuzin said in a response to a media question, published on the Russian Foreign Ministry's website.
He cited the situation surrounding Electric Networks of Armenia (ENA) CJSC as an example, calling it the "ongoing nationalization" of the company.
According to Galuzin, the authorities' actions against ENA "are more akin to a politically motivated crackdown on a competitor in the domestic arena." He also stated that before the company's owner, Samvel Karapetyan, entered Armenian politics, there were "no complaints" about the ENA's work.
Regarding South Caucasus Railways (SCR), Galuzin stated that Moscow is taking the Armenian leadership's statements regarding the possible transfer of a concession to manage the railway network to a third country "very seriously."
According to him, the Russian company has been investing its revenues for many years in the maintenance, renovation, and development of Armenia's railway infrastructure. Galuzin reported that SCR's investments since 2008 have amounted to 30 billion rubles (approximately $388 million at the current exchange rate), and the amount of taxes paid has amounted to 15 billion rubles (approximately $194 million).
According to his data, more than 520 km of track have been repaired out of an operational network length of approximately 700 km, 50% of the sleepers have been replaced, and more than 50 structures have been repaired and reconstructed. The company employs over 2,500 people.
Galuzin also suggested that the discussions regarding the sale of the concession could be connected to the intention to transfer the railways "in the interests of other states' geopolitical projects."
"We closely monitor the observance of the legitimate interests of Russian economic operators in Armenia. Violating these interests will not only damage the republic's investment climate but will also provoke an appropriate response from the Russian side," he stated.
About ENA and SCR
On July 3, 2025, the Armenian Parliament adopted legislative amendments allowing the state to intervene in the management of ENA. Since July 18, Romanos Petrosyan has been the company's interim manager. Prime Minister Nikol Pashinyan has stated his intention to transfer ENA to state ownership.
ENA has been owned by Samvel Karapetyan's Tashir Group of Companies since 2016. The businessman was arrested on June 18, 2025. He faces charges including public calls to seize power, tax evasion, embezzlement, and money laundering. Karapetyan denies the charges, and his defense considers the prosecution politically motivated.
Since 2008, Armenia's railway network has been under the concession management of South Caucasus Railways, a subsidiary of Russian Railways. In February 2026, Armenian Prime Minister Nikol Pashinyan did not rule out the possibility of transferring the railway's management rights to another country friendly to both Armenia and Russia, naming Kazakhstan, the UAE, and Qatar.
On July 30, Pashinyan announced possible financial demands of approximately $2 billion from Russia in the context of the concession, noting that Yerevan expects to resolve the issue through dialogue. Russian Railways CEO Oleg Belozerov stated the same day that the Russian side intends to adhere to the terms of the concession agreement and expects a return on its investment if it is terminated or amended.
"We regularly raise the issue of operating conditions for Russian businesses in Armenia in our contacts with the Armenian side. We have been assured at various levels that domestic investments are not at risk. However, as we see, these statements do not entirely align with reality," Galuzin said in a response to a media question, published on the Russian Foreign Ministry's website.
He cited the situation surrounding Electric Networks of Armenia (ENA) CJSC as an example, calling it the "ongoing nationalization" of the company.
According to Galuzin, the authorities' actions against ENA "are more akin to a politically motivated crackdown on a competitor in the domestic arena." He also stated that before the company's owner, Samvel Karapetyan, entered Armenian politics, there were "no complaints" about the ENA's work.
Regarding South Caucasus Railways (SCR), Galuzin stated that Moscow is taking the Armenian leadership's statements regarding the possible transfer of a concession to manage the railway network to a third country "very seriously."
According to him, the Russian company has been investing its revenues for many years in the maintenance, renovation, and development of Armenia's railway infrastructure. Galuzin reported that SCR's investments since 2008 have amounted to 30 billion rubles (approximately $388 million at the current exchange rate), and the amount of taxes paid has amounted to 15 billion rubles (approximately $194 million).
According to his data, more than 520 km of track have been repaired out of an operational network length of approximately 700 km, 50% of the sleepers have been replaced, and more than 50 structures have been repaired and reconstructed. The company employs over 2,500 people.
Galuzin also suggested that the discussions regarding the sale of the concession could be connected to the intention to transfer the railways "in the interests of other states' geopolitical projects."
"We closely monitor the observance of the legitimate interests of Russian economic operators in Armenia. Violating these interests will not only damage the republic's investment climate but will also provoke an appropriate response from the Russian side," he stated.
About ENA and SCR
On July 3, 2025, the Armenian Parliament adopted legislative amendments allowing the state to intervene in the management of ENA. Since July 18, Romanos Petrosyan has been the company's interim manager. Prime Minister Nikol Pashinyan has stated his intention to transfer ENA to state ownership.
ENA has been owned by Samvel Karapetyan's Tashir Group of Companies since 2016. The businessman was arrested on June 18, 2025. He faces charges including public calls to seize power, tax evasion, embezzlement, and money laundering. Karapetyan denies the charges, and his defense considers the prosecution politically motivated.
Since 2008, Armenia's railway network has been under the concession management of South Caucasus Railways, a subsidiary of Russian Railways. In February 2026, Armenian Prime Minister Nikol Pashinyan did not rule out the possibility of transferring the railway's management rights to another country friendly to both Armenia and Russia, naming Kazakhstan, the UAE, and Qatar.
On July 30, Pashinyan announced possible financial demands of approximately $2 billion from Russia in the context of the concession, noting that Yerevan expects to resolve the issue through dialogue. Russian Railways CEO Oleg Belozerov stated the same day that the Russian side intends to adhere to the terms of the concession agreement and expects a return on its investment if it is terminated or amended.
