The Armenian government will initiate a process to declare the shares of Electric Networks of Armenia as being of overriding public interest and proceed with their expropriation, acting head of the company Romanos Petrosyan said in a Facebook post.
“Yesterday, on May 25, the deadline established by the Administrative Court of Armenia through interim measures expired, during which the shareholders of Electric Networks of Armenia CJSC were expected, based on a proposal by the Armenian government, to transfer 100% of the company’s shares in a manner agreed with the government,” Petrosyan wrote.
“Considering that no transfer of shares took place within the established timeframe, and guided by Article 52, Part 3 of the Armenian Law ‘On Energy’ and Article 60 of the Constitution of the Republic of Armenia, the government will initiate the process of declaring the shares of Electric Networks of Armenia CJSC as being of overriding public interest and proceeding with their alienation (nationalisation),” he added.
Armenian Prime Minister Nikol Pashinyan announced on June 18, 2025, that the time had come to nationalise Electric Networks of Armenia.
In July 2025, Armenia’s parliament adopted in second and final reading legislative amendments aimed at nationalising the company, granting new powers to the Public Services Regulatory Commission.
Under the legislation, if the activities of a licensed company are deemed high-risk, the government-authorised body may submit a report enabling preventive measures to be applied before formal proceedings are launched, while also defining the types of measures, the procedure for their application and the conditions for their legality.
On July 18, by decision of Public Services Regulatory Commission Chairman Mesrop Mesropyan, Petrosyan was appointed temporary manager of Electric Networks of Armenia.
The company is owned by Tashir Capital, which challenged the appointment of a temporary manager for Electric Networks of Armenia in the Stockholm arbitration court.
On November 17, 2025, Armenia’s Public Services Regulatory Commission decided to revoke the licence of Electric Networks of Armenia.
Published by Armenpress, original at
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