Author: Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS

MP Artur Davtyan resigns; he was nominated as judge of Cassation Court

Emil Lazarian
ARMINFO
Armenia –
Alexandr Avanesov

ArmInfo. Member of the National Assembly of Armenia from the ruling "Civil Contract" faction Artur Davtyan filed an application for the resignation of the parliamentary  mandate. This is stated in the statement of President of the RA  National Assembly Alen Simonyan.

As the press service of the RA NA reports, the statement of President  of the National Assembly reads, in part: "Pursuant to Article 155.1  of the Constitutional Law the Rules of Procedure of the National  Assembly, the deputy of the National Assembly of the Republic of  Armenia Artur Davtyan submitted his resignation letter on June 27.

Pursuant to Article 155.2 of the Constitutional Law the Rules of  Procedure of the National Assembly, if within a week, after the  promulgation of resignation, the deputy withdraws his/her application  for resignation with a written application, then the President of the  National Assembly shall make a statement on that, if he/she does not  withdraw his/her letter for resignation, then a protocol shall be  made on the termination of his/her powers, which shall be signed and  promulgated by the President of the National Assembly. The  resignation shall be deemed adopted from the moment of promulgation  of the protocol."

It should be reminded that the Supreme Judicial Council nominated  Artur Davtyan for the position of judge of the Cassation Court for  anti-corruption cases.  

Chess: Madrid: Karen Grigoryan is the third prize winner

Emil Lazarian
NEWS.am
Armenia –

The representative of Armenia Karen Grigoryan took part in one of the chess events held in Madrid near the World Chess Candidates Tournament.

In the blitz tournament, the Armenian grandmaster scored 7.5 points out of 9 and took the third place.

The title of the winner was won by the Spaniard Eduardo Iturrizaga, who scored 8 points. The second place was taken by Cuban Yusnel Bacallao Alonso with 7.5 points.

Turkish press: Türkiye supports ‘immediate’ opening of strategic Zangezur corridor

Emil Lazarian
Faruk Zorlu and Burak Dag   |27.06.2022


ANKARA

Türkiye supports dialogue to thaw relations between Azerbaijan and Armenia and the immediate opening of the Zangezur corridor, the Turkish foreign minister said Monday.

In a joint press conference with his Azerbaijani and Kazakh counterparts, Mevlut Cavusoglu said: "We strongly support the Zangezur corridor, which will provide a connection between the western regions of Azerbaijan and Nakhchivan," an exclave of Azerbaijani territory currently reachable only through Armenia.

Earlier on Monday, a trilateral meeting was held between the ministers of foreign affairs and transport in Azerbaijan's capital Baku.

"We are expecting the opening of the corridor immediately," Cavusoglu said, adding that this development will have a positive impact on the region.

Azerbaijan’s President Ilham Aliyev said in late May that Baku agreed with Yerevan on the opening of the Zangezur corridor, including the construction of both railways and highways.

Following the completion of the railway, Azerbaijan will be able to reach Iran, Armenia and Nakhchivan. The railway will also link Türkiye with Russia through Azerbaijan.

Armenia and Azerbaijan fought a 44-day war in September 2020 over Nagorno-Karabakh, a territory internationally recognized as part of Azerbaijan, and seven adjacent regions.

The war, which ended with a Russia-brokered peace deal, saw Azerbaijan liberate several cities and over 300 settlements and villages that were occupied by Armenia for almost 30 years.

Russia-Ukraine war

Referring to the grain supply shortage caused by the Russia-Ukraine war, Cavusoglu said supported by the UN, Türkiye is making all-out efforts to solve the issue.

"We have seen once again in this crisis how important sustainable and safe transportation lines are," he said.

Ukraine is among the leading exporters of grain in the world, however, Russia's continued blockade of Ukraine's Black Sea ports has created a global food shortage.

Türkiye has been pushing Ukraine and Russia to reach a deal to resolve the issue with Russian Foreign Minister Sergey Lavrov visiting Ankara last week.

Underlining that Türkiye made "significant investments" to increase its national and regional capacity, Cavusoglu highlighted the importance of the projects such as the Baku-Tbilisi-Kars railway, the Baku-Tbilisi-Ceyhan pipeline and TANAP pipeline, which were earlier put into operation in the region.

The Turkish foreign minister added that the tripartite meeting will also contribute to the work of the Organization of Turkic States, a regional body.

"We are once again demonstrating our common will for the spread of peace and prosperity in our region and the transformation of the Turkic world into a more integrated structure in the future," he said.

For his part, Azerbaijani Foreign Minister Jeyhun Bayramov said: "During the talks, we focused on the development of the Trans-Caspian Corridor and the current freight traffic accordingly."

"If particular attention is paid to current issues, ways can be found to expand our transport and communications cooperation to eliminate obstacles," he said.

Bayramov stated that the new realities that emerged after the liberation of Azerbaijani lands from the Armenian occupation were also on the agenda of the meeting.

"The Zangezur corridor plays a special role in establishing a route to the European Union, Türkiye and Asia," he said.

Moreover, Kazakhstan’s Deputy Prime Minister and Foreign Minister Mukhtar Tileuberdi said: "Our goal is to further strengthen the relations between our countries."

Baku declaration signed by Türkiye, Azerbaijan, Kazakhstan

Following the tripartite meeting, the foreign ministers signed the Baku Declaration.

At the top huddle, participants discussed ways to develop the potential of the Trans-Caspian East-West Middle Corridor Initiative.

Also called the Middle Corridor, the network of railways and roads starts in Türkiye and covers Georgia, Azerbaijan, the Caspian Sea and Central Asia to reach China, making it an important effort to revive the ancient Silk Road.

Amulsar gold mine: a test for Armenian democracy, a human and environmental failure for development banks

Emil Lazarian
28/06/2022

Paris, Yerevan, — The International Federation for Human Rights (FIDH), its Armenian member organisation, the Civil Society Institute, and CEE Bankwatch Network, publish a report on the multiple human rights and environmental abuses linked to the Amulsar gold mine project in Armenia. Located in a particularly sensitive area, and home to several protected species, rivers, and water reservoirs that are vital to the nearby spa town of Jermuk, the project has been plagued by major risk management problems and allegations of corruption since its inception in 2007.

Read the executive summary here.

For 15 years, two of the world’s largest development banks financed an Armenian gold mine that harmed the environment and the rights of local communities. Civil society activists were critical of the mine, blocking its entry and taking the case to court. Weakened by the armed conflict with neighbouring Azerbaijan, the Armenian government, elected after the 2018 Velvet Revolution amid promises of democratic reform, wants to reopen it and just passed a law that could weaken civic participation in mining projects.

Taking advantage of Armenia’s opaque governance of natural resources, Lydian, a company listed on the Toronto Stock Exchange until 2020, developed the project without seriously consulting local affected populations. As early as 2018, 85.7% of the surveyed inhabitants of Jermuk reported impacts on their health such as asthma attacks, lung diseases, headaches, and insomnia.

"During the Velvet Revolution, Armenians’ voices grew freer and mobilisation against the project became very strong," explained Inga Zarafyan, president of EcoLur informational NGO. "Our protest is based on serious assessments provided by dozens of independent experts and on reliable scientific data."

"After all these years, we have the right to challenge unreasonable and anti-democratic decisions. But the mining company is doing everything it can to stop us."

Inga Zarafyan

In 2018, Lydian launched no fewer than 20 "SLAPP suits" – legal actions designed to silence or intimidate – against human rights and environmental defenders, journalists, and even a member of parliament. Critical voices are regularly subjected to smear campaigns. Despite such smear campaigns and repression, the neighbouring populations set up a blockade at the entrance of the mine that lasted over two years, from 2018 to 2020.

The report highlights the failure of the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC, a branch of the World Bank) – two multilateral development banks that respectively supported the project from 2007 to 2017 and 2009 to 2021 – to uphold their human rights and environmental obligations in accordance with international standards and their own policies. The development banks have so far refused to shoulder any responsibility for the project’s failures or to provide remedy for the damage caused to local communities. In 2014, the EBRD’s internal grievance mechanism held that two complaints filed by affected people were ineligible, before the bank’s new complaints mechanism finally launched a compliance investigation in 2020, which is ongoing.

“The IFC and the EBRD failed to bring high standards of transparency, participation in decision-making and accountability to the mining project."

Fidanka Bacheva-McGrath, strategic area leader at CEE Bankwatch Network

"Instead of leading by example and adding value, the EBRD refused to communicate to civil society about Amulsar and tolerated dozens of SLAPPs by Lydian, which was unprecedented in our experience," said Fidanka Bacheva-McGrath. "I hope the EBRD’s accountability mechanism will soon deliver a critical review and recommendations for effective remedy."

Amulsar can be seen as a test for Armenia’s young democracy, which in three years has experienced a revolution, the consequences of the pandemic, and then a harsh armed conflict that has caused heavy human, moral, territorial, and economic losses.

Under intense diplomatic and economic pressure, the Armenian government approved a five-year action plan in November 2021, that included operating the Amulsar mine.

In addition to recommendations to the development banks and Lydian, the report calls on the Armenian government to revoke Amulsar’s licences and urgently implement all of the recommendations of international experts from the UN and the Bern Convention who have reviewed the situation.

“We are concerned by the recent turn of events in Armenia. The government seems to be enacting dangerous reforms that could further weaken citizen participation in decision-making around mining projects, instead of learning the lessons from Amulsar," explained Artak Kirakosyan, director of CSI and vice-president of FIDH.

"Yes, reform of mining regulation is needed. But only if it prioritises the effective participation of affected communities and the protection of human rights and the environment.”

Artak Kirakosyan

The full report is available in Armenian and English.

Read the executive summary in French, in Armenian, or in English below:

 

Gielda Papierów Wartosciowych w Warszawie S A : GPW Acquires Armenia Securities Exchange

Emil Lazarian
Market Screener
06/28/2022 | 12:11pm EDT

GPW Acquires Armenia Securities Exchange

2022-06-28 17:50:16

Yerevan,

PRESS RELEASE

  • The Warsaw Stock Exchange (GPW) has signed a Share Purchase Agreement with the Central Bank of Armenia (CBoA) to buy a 65,03% stake in the Armenia Securities Exchange (AMX) from CBoA
  • GPW and CBoA have signed a Shareholders' Agreement regarding the participation of the contracting parties in AMX
  • The signing ceremony was attended by representatives of Polish and Armenian authorities, including Marcin Przydacz, Undersecretary of State at the Ministry of Foreign Affairs

On , during a ceremony in Yerevan, Marek Dietl, President of the Management Board of the Warsaw Stock Exchange (GPW), signed a Share Purchase Agreement between GPW as the buyer and the Central Bank of Armenia (CBoA) as the seller of a majority stake in the Armenia Securities Exchange (AMX) representing 65.03% of shares. CBoA was represented by Martin Galstyan, Governor of the Central Bank of Armenia. A Shareholders' Agreement regarding the participation of the contracting parties in AMX was also signed in Yerevan between GPW and CBoA. The signing ceremony was attended by representatives of the Polish government: Marcin Przydacz, Undersecretary of State at the Ministry of Foreign Affairs, and Paweł Cieplak, Ambassador Extraordinary and Plenipotentiary of the Republic of Poland to Armenia.

"We firmly believe that this transaction lays new foundations in Polish-Armenian relations as a clear _expression_ of the 700-year history of mutual trust and respect that binds our two nations. Poland and the Warsaw Stock Exchange are helping Armenia to build economic relations with the West in small steps. We consider this investment as a long-term partnership. Our aim is to recreate with joint efforts the capital markets of Armenia and thrive to extend our business further into the region. We also expect to develop the capital markets infrastructure, creating opportunity for businesses to raise sustainable and affordable capital while enabling the investors and savers to manage their savings and investments more professionally within a wider range of investment products and opportunities," said Marek Dietl, President of the Management Board of GPW.

The detailed development plan of AMX and the Armenian capital market is set out in the long-term development strategy of AMX, which was developed in co-operation with the EBRD and GPW. GPW intends to support the development of the capital market in Armenia by leveraging its 30 years of experience in building a capital market in Poland.

"We believe this to be an important milestone in the development of Armenian capital markets. Having found such a partner in the Warsaw Stock Exchange, realizing we have the same vision and similar aspirations, we believe this deal to be a turning point in the chronicles of capital markets in Armenia. Under the leadership of the Warsaw Stock Exchange, with their experience and knowledge, AMX has the full potential to expand and become the robust stock market ready to take up the challenges of the 21st century and lead the region," said Martin Galstyan, Governor of the Central Bank of Armenia.

The joint-stock company AMX is the only stock exchange currently operating in Armenia (as the Armenia Securities Exchange from 2001 and as NASDAQ OMX Armenia since 2008). For more than 18 years, the exchange has been an organised securities market in Armenia, offering market professionals a fully automated electronic trading platform. The AMX Group's core business is to organise trading in financial instruments and operate a depository and clearing house for trading in financial instruments in Armenia. The company is headquartered in Armenia's capital, Yerevan. Currently listed instruments include equities, corporate and government bonds, currency, credit, as well as repos and swaps. AMX continues to work on introducing other organised markets. The Central Bank of Armenia is the supervisory and regulatory authority for the stock exchange and the Armenian capital market. AMX is a member of the Federation of Euro-Asian Stock Exchanges (FEAS) and the International Association of CIS Exchanges. Since 2008, AMX is also a member of the American Chamber of Commerce in Armenia.

As a result of the transaction, GPW will become the majority shareholder of AMX holding a block of 967 shares, representing a 65.03% stake in the company's total share capital. CBoA will hold 372 shares representing a 25.02% stake in the company's share capital. The remaining 9.95% i.e. 148 shares are AMX's Treasury shares. In addition, GPW will indirectly take control of the Central Depository of Armenia (CDA), in which AMX currently holds a 100% stake.

***

On 18 September 2020, the GPW Management Board signed an agreement with the Central Bank of Armenia (CBoA) to negotiate the acquisition of a majority stake representing 65% of shares in the Armenia Securities Exchange (AMX). On 19 May 2022, the GPW Management Board and the GPW Supervisory Board approved the acquisition of a 65.03% stake in the Armenia Securities Exchange. On 24 May 2022, during the World Economic Forum in Davos, Marek Dietl, President of the Management Board of the Warsaw Stock Exchange (GPW), and Hayk Yeganyan, President of the Management Board of the Armenia Securities Exchange (AMX), signed a memorandum and initialled a Share Purchase Agreement setting out the terms of GPW's acquisition of a majority stake in AMX. The agreement was initialled in the presence of Andrzej Duda, President of the Republic of Poland, and Vahagn Khachaturyan, President of the Republic of Armenia.

***

The Warsaw Stock Exchange Group (GPW Group) operates trading platforms for shares, Treasury and corporate bonds, derivatives, electricity and gas, and provides indices and benchmarks including WIBOR and WIBID. The index agent FTSE Russell classifies the Polish capital market as a Developed Market since 2018. The markets operated by the GPW Group are the biggest in Central and Eastern Europe. For more information, visit www.gpw.pl

The Armenia Securities Exchange (AMX) is the only securities regulated market operator in Armenia. As an integrated exchange offering, AMX provides a full suite of services including listing, trading, clearing, information services and alternative market solutions. Investors receive a wide range of investment products and maximum transparency, together with the smooth and efficient execution and clearing of trade transactions. Being a 100% shareholder of the Central Depository of Armenia, AMX also provides integrated settlement solutions for both resident and non-resident clients by utilizing the central depository's international settlement network and relationships with global depositories. AMX as a group has a pivotal role in the Armenian financial system.
The mission of AMX is to enhance and develop the infrastructure of the Armenian capital market and create an attractive business environment. We will do this by becoming an active financing tool for the Armenian economy, enabling the raising of capital and investments. Through the expertise, experience and passion of our people, AMX ensures that our operations are built on foundations of quality, security and trust.

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WSE – Warsaw Stock Exchange SA published this content on  and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on  16:10:27 UTC.

Pashinyan says corridor connecting Armenia to Karabakh will be changed

Emil Lazarian
PanARMENIAN
Armenia –
– 10:42 AMT

PanARMENIAN.Net - Prime Minister of Armenia Nikol Pashinyan has revealed that there is a "preliminary understanding" that Lachin corridor connecting Armenia to Nagorno-Karabakh (Artsakh) will be changed.

Pashinyan made the demarks during an online press conference organized for the media and non-governmental organizations on Monday, June 27.

He cited the trilateral statement from November 9, 2020, according to which "the Parties have agreed that a plan for the construction of a new route along the Lachin corridor shall be determined within the next three years."

"During this time, we have been holding discussions, preliminary agreements have been reached," the Prime Minister said. "The purpose of this change is to provide a more reliable, stronger and better road connection for Nagorno-Karabakh and Armenia."

Asked what will happen to the residents of Aghavno and Sus communities, which are situated within the current corridor, Pashinyan said: "In case of a change in the route, the territories that are not part of the former Nagorno-Karabakh Autonomous Region will pass under the control of Azerbaijan. The problems of the residents of Aghavno will be solved with the help of the Artsakh government."

https://www.panarmenian.net/eng/news/301164/Pashinyan_says_corridor_connecting_Armenia_to_Karabakh_will_be_changed

Yerevan and Marseille keen to expand cooperation

Emil Lazarian
Public Radio of Armenia
Armenia –
, 16:19

 1 minute read

The perspectives of deepening the 30-year cooperation between Yerevan and Marseille were discussed during Yerevan Mayor Hrachya Sargsyan’s meeting with the deputy mayors of Marseille.

Mayor of Marseille Benoit Payan was unable to receive the delegation as he tested positive for Covid-19.

Greeting the Mayor of Yerevan, Deputy Mayor of Marseille Yanick Ohanissian noted that the collaboration between the two cities has a big potential for development and expansion, which should be used for the benefit of the residents of Yerevan and Marseille.

Expressing gratitude for warm welcome, Yerevan Mayor Hrachya Sargsyan stressed that the visit is a good opportunity to outline priority directions for working out a new three-year program. The parties attached importance to experience exchange between specialists and stressed that the cities encountering similar problems should join their efforts to achieve results.

https://en.armradio.am/2022/06/28/yerevan-and-marseille-keen-to-expand-cooperation/

Special Representatives of Armenia, Turkey to meet in Vienna on July 1st

Emil Lazarian
Public Radio of Armenia
Armenia –
, 12:23

 Less than a minute

The fourth meeting of the Special Representatives of Armenia and Turkey for the normalization process will take place in Vienna on July 1st, the Armenian Foreign Ministry informs.

Deputy Speaker of the National Assembly of Armenia Ruben Rubinyan and Ambassador Serdar Kilic last met in Vienna on May 3.

The Special Representatives reaffirmed the declared goal of achieving full normalization between their respective countries through this process. In this sense, they had a sincere and productive exchange of concrete views and discussed possible steps that can be undertaken for tangible progress in this direction.

They reiterated their agreement to continue the process without preconditions.

Analyst urges Armenian authorities to invite Minsk Group co-chairs to Yerevan

Emil Lazarian
Panorama
Armenia –

Political analyst Suren Sargsyan urges the Armenian authorities to invite the OSCE Minsk Group mediators to Yerevan.

"France and the U.S. on the one hand and Russia on the other hand trade blames for the "demise" of the Minsk Group. Armenia, unlike Azerbaijan, insists that the Minsk Group is needed,’ he wrote on Facebook.

“Now the question is: Why doesn't Armenia invite the Minsk Group co-chairs to Yerevan? Incidentally, this will be the only channel of communication between the West and Russia. Let them visit the region and let Aliyev not receive them. Many things will become clear to everyone,” the analyst said.

His comments came after the U.S. Department of State’s Bureau of European and Eurasian Affairs said the U.S. Minsk Group co-chair spoke with her counterparts today to discuss the future of Nagorno-Karabakh. Also, the Bureau said the Russian co-chair did not accept Washington’s invitation to joint it.

Earlier on Friday, Russian Foreign Minister Sergey Lavrov claimed that the Minsk Group “has wound down its activities” on the initiative of the United States and France.