The transaction is completed. VTB has sold the Teghut mine, but the new owner h

Maral Chavushian
Photo: azatutyun.am

The Russian VTB Bank has completed the sale of the second largest copper-molybdenum mine in Armenia, Teghut. The company’s multimillion-dollar debt was initially bought by a local company and then resold to an as-yet-unknown main investor.


As reported “Freedom” radio station, the Teghut mine with estimated reserves of about 450 million tons of ore was previously operated by the “Vallex Group” company owned by businessman Valery Mejlumyan. However, in 2018, due to non-fulfillment of loan obligations, the mine was transferred to the Russian state-owned VTB Bank for a debt of 380 million dollars.


During the transition period, the bank owned 49.95 percent of the shares of “Teghut” CJSC, and the remaining share belonged to other individuals. Since the mining industry was not included in the profile of the financial structure, in April the CEO of VTB Andrey Kostin announced the final stage of the sale of the asset.


The mystery shopper and the role of the middleman


The process of expropriation of the asset received an official formulation in the summer. On July 7, the Competition and Consumer Protection Commission approved the application of the “Kuprar RA” company, allowing it to acquire the shares of “Teghut”.


According to the register of legal entities, “Kuprar RA” was founded in February of this year by a former government official and banker. Sergey Virabyan who was the sole owner and director of the company until June. Currently, the position of the general director of the company is held by a lawyer Artyom Geghamyan, who previously held the position of Legal Director of “Vallex Group”.


As reported by “Azatutyun” radio station, Sergey Virabyan personally confirmed that he assumed the debt of “Teghut” to VTB purely for business purposes in order to resell it to another person.


In an official interview, he refused to reveal the identity of the final buyer, citing trade secrets. At the same time, according to the sources of the radio station, a telecommunications businessman, owner of “Viva Armenia” was very interested in the acquisition. Konstantin Sokolov։


Financial condition and prospects


The financial burden of Teghut was quite heavy. according to 2024 reports, the volume of outstanding credit obligations exceeded $440 million. Normal operation of the mine was disrupted in the spring of 2022 due to geopolitical developments and logistical complications, but production was later partially restored.


Already at the end of 2024, the company has ensured the production of 88 thousand tons of copper concentrate, which was exported to China, Russia and Switzerland. Under the conditions of the new owner, stabilization of the mine’s production volume and final settlement of financial obligations is expected.

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Davit Khazhakyan leaves the “Enlightened Armenia” party

Garnik Tadevosian
Photo from Davit Khazhakyan’s official Facebook page

Former member of the Yerevan Council of Elders and politician Davit Khazhakyan has officially announced his decision to leave the ranks of the “Bright Armenia” party, signaling the start of a new phase in his political career.


In his public statement, Khazhakyan stated that he considers his mission in the political structure to be over. He emphasized that entering politics at the age of 21 was a difficult, but very conscious choice, which he has never regretted.


The politician described the past years as an important period of professional and ideological maturation. He thanked all his colleagues, teammates and personally the chairman of the party, Edmon Marukyan, for the joint work, acquired experience and the opportunity to serve the state.


Khazhakyan also clarified that not participating in the last parliamentary elections was his personal decision. He concluded his speech as an artist Arthur Meschyan with well-known lines about leaving and opening new doors, suggesting the possibility of continuing political or public activity in a new format.


Let’s remind that he entered active politics in 2017, being elected a member of the Yerevan Council of Elders as part of the “Exit” bloc. After the collapse of the alliance, Khazhakyan continued his path with “Lusavore Armenia”. Although the party entered the parliament in the extraordinary elections of 2018, and was left out of the legislature in 2021, Khazhakyan has remained one of the key and recognizable figures of the structure to this day.

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Forgetting the “Azerbaijani laundry”, Aliyev accused Ocampo of corruption

Emil Lazarian
Photo: Azerbaijani mass media

During the so-called Global Media Forum in Shushi, Azerbaijani President Ilham Aliyev made sensational statements, accusing the former prosecutor of the International Criminal Court of financial fraud and criticizing the former high-ranking official of the European Union.


According to the Azerbaijani Report agency, during the opening ceremony of the event held on July 13, the leader of Azerbaijan announced that the former prosecutor of the International Criminal Court Luis Moreno Ocampo was financed by an “Armenian oligarch”. According to Aliyev, this support was aimed at the promotion of issues related to Armenia, and a prominent anti-Azerbaijani group operated within the European Commission.


Referring to the relations with the European Union, the President of Azerbaijan severely criticized the former head of European diplomacy Joseph Borelli. He noted that during Borel’s tenure, relations between Brussels and Baku were on the verge of a complete collapse. Aliyev expressed hope that after the European official’s departure from politics, bilateral relations will finally enter the stage of improvement.


It should be noted that the corruption accusations against European and international officials are marked by serious contradictions, because it is the leadership of Azerbaijan that has repeatedly appeared at the center of major international financial scandals. The Center for Corruption and Organized Crime Research (OCCRP) and the world’s leading media revealed the scheme called “Azerbaijani Laundry” years ago.


Investigative journalists found that Baku had funneled around $2.9 billion through Western banks and shell companies to bribe politicians in Europe and lobby for the country’s interests.


Moreover, well-known leaks of financial documents, such as the “Pandora Papers”, have revealed hundreds of millions of dollars in secret offshore assets and luxury real estate belonging to the Aliyev family and their associates in the UK and other countries, which continue to be the target of strong criticism from international human rights and anti-corruption organizations.

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Aliyev announced the full settlement of relations between Baku and Moscow

Nahapetian Zhanna
Photo: AFP

President of Azerbaijan Ilham Aliyev has announced the overcoming of previous difficulties in bilateral relations with Moscow and the start of a new, more active phase of regional cooperation.


Within the framework of the Fourth Global Media Forum in Shushi, the head of state emphasized that Baku attaches special importance to cooperation with the Russian Federation. Referring to the positive assessments of Russian official circles, including President Vladimir Putin, Aliyev noted the dynamic development of relations between the two states.


Admitting that there were certain complications in the past, he assured that that stage is now in the past, and interstate relations have been completely settled.


Now, according to the president of Azerbaijan, active and uninterrupted contacts are taking place at all levels. governments, intergovernmental commissions, foreign policy departments and presidential staffs work closely together. Russian-Azerbaijani cooperation is considered as a key factor not only in the bilateral format, but also in the wider regional context.


It is emphasized that the partnership includes both traditional and new directions to be formed in the future, paying special attention to the development of transport infrastructure, expansion of trade and economic ties and humanitarian interaction.

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Verelq: The next batch of Russian wheat will reach Armenia to the territory of Azerbaijan

Chmshkian Vicken
Photo: sputnik

A consignment of 490 tons of wheat is sent from the Russian Federation to the Republic of Armenia, the transit route of which will pass through the territory of Azerbaijan.


According to the information of the Azerbaijani APA news agency, the delivery of the cargo rolling stock consisting of seven railway cars is planned to be carried out on July 13.


The process is significant from the point of view of the logistics solution, because the Azerbaijani railway infrastructure will be officially used as a transit zone to bring the Russian agricultural cargo to its destination.

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Asbarez: Armenia Will Oversee Border, Customs on TRIPP, State Department Says

Kajoyan Gevork
by Asbarez Staff

 

 July 13, 2026

 

in Armenia, Artsakh, Featured Story, Latest, News, Top Stories

The State Department said that all functions of customs and border security along the proposed Trump Route for International Peace and Prosperity—TRIPP—will be overseen by Armenia and governed by Armenian laws.

The U.S. statement was in response by an inquiry by Azatutyun.am regarding the Russian-led Eurasian Economic Union regulations governing customs and trade. Armenia is a member of the EEU and bound by its rules.

Armenia’s recent westward turn has angered Russia, with Moscow pressuring Yerevan to make up its mind on whether it will remain in the EEU or move toward the European Union and the West in general.

Armenia’s deputy foreign minister recently announced that the TRIPP project, which will connect Azerbaijan to Nakhchivan through Armenia’s Syunik Province, will operate in accordance with the EEU transit regulations.

This prompted Azatutyun.am’s query for the State Department to clarify whether the US, as a TRIPP participant, has agreed that the transit route will operate under the EEU regulatory framework and whether customs transit procedures within the framework of TRIPP will be regulated by the EEU regulations, and if so, whether there already was an understanding or agreement between Armenia and the US on this matter.

The State Department responded very briefly, only stating that TRIPP preserves Armenia’s sovereignty, territorial integrity, and jurisdiction. All border security and customs functions shall remain under Armenia’s overseeing, the Armenian authorities shall oversee and make key decisions.

Earlier, Foreign Minister Ararat Mirzoyan hinted that interaction with those passing and returning through this route could also be delegated to a third-country operator. They will collect documents for verification, as well as transit fees.

In response to the question of whether Washington has discussed this with the authorities of Armenia and Azerbaijan, the State Department spokesperson only stated that Washington continues to work with the Azerbaijani government on the priority domains enshrined in the strategic partnership document, including regional connectivity, economic investment, energy, security cooperation, and artificial intelligence.

Also, the State Department declined to say how much money the American side has allocated for the TRIPP project so far, as the State Department spokesperson said that they could not provide additional details at this time.

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168: Investors see what is happening in Armenia for investors and investors

Badalian Vardan

July 12, 2026


Recently, Nikol Pashinyan sent the President of the Central Bank and the Minister of Finance to participate in an international conference with the aim of presenting Armenia’s investment attractiveness and promoting investment attraction.

In order to attract investors, the Minister of Finance spoke at length about how stable the macroeconomic environment of Armenia is and what policies and reforms the government is implementing to ensure long-term economic growth.

It will be seen later whether the participants of the conference believed what the minister said or not. But it is a fact that what the authorities have done is in no way compatible with common sense. On the one hand, they are trying to present Armenia as an attractive country for investments on international platforms, on the other hand, they are doing things within the country that do not fit into its framework in any way.

Investors do not invest following the beautiful words and presentations of officials. They also see what is happening with investors and business in general in Armenia. Before making investments, investors are not primarily interested in the macroeconomic stability of the country, but how well their investments will be protected.

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The authorities do not even hide that they are carrying out political reprisals against businesses.

At conferences, they talk about a favorable environment for investments, but inside they attack investors. Everyone can see how law enforcement officers and tax officials have been raiding companies owned by Gagik Tsarukyan, conducting searches, closing down productions, stopping their activities, and creating security problems.

The issue here is not Gagik Tsarukyan’s personality at all. One can love or dislike him, accept or not accept him, agree or disagree with his political activities and views. The problem is not that, the problem is completely different. Any investor looks at all this with a different eye. He sees that the government can use the entire state machine for political views on citizens’ businesses, he sees that state bodies can initiate criminal cases out of nowhere.

There is no guarantee that the same will not happen to others at any time.

This has become a systemic problem in Armenia and is neither the first nor the last case. We witnessed a similar phenomenon in the case of Samvel Karapetyan. Even before Samvel Karapetyan, many businesses had already faced the arbitrariness of the government within the framework of political reprisals. Now the same is happening with Gagik Tsarukyan’s businesses. Nikol Pashinyan promised and now he is taking revenge.

No matter how much the authorities try to present that they are dealing with legal processes, there is no law and legitimacy here. This is anarchy that destroys the foundations of the economy. In such conditions, what hopes can they have that there will be investments in Armenia? It is not surprising that very few investments are made in Armenia.

In the first quarter of this year, the net flows of foreign investments in the real economy amounted to only 25 billion drams or less than 70 million dollars. Compared to the previous year, they have increased by only a few hundred million drams. And it is legal when we see what kind of political reprisal is being carried out against investors and big businesses.

No serious investor will want to invest in such an environment where the future of his business will depend not on the law, but on the will of the political authorities. If the political authorities want it, the investor will work, if they don’t want it, they will close and take away the business.

When more than a dozen companies of a businessman are attacked on the same day, their activities are destroyed and disrupted, Gagik Tsarukyan is not the only victim. As a result, the economy suffers, the state budget suffers, people who work in these companies, receive salaries, and solve the social problems of their families suffer.

People who are happy that Gagik Tsarukyan’s or someone else’s businesses are closed, maybe they don’t even imagine how much damage the state and citizens suffer from it. Those companies pay billions of drams in taxes. And when they are closed, those funds do not enter the state budget, they do not become pensions and allowances, the economic programs that were supposed to be implemented with those funds are not implemented. When these companies do not work, thousands of workers become unemployed, do not receive wages, and taxes are not collected from these wages. The unpaid salary is also an unfulfilled trade, from which no more taxes are generated.

The investment reputation of the country suffers, if they still left something behind.

Investments, which should become the basis of future economic growth and development, are not received.

No investor is inclined to invest in such an intervention. And the reason for this is that law and justice have been pushed into the background in Armenia for a long time. The will of the government has become the highest law and right that can fall on the head of any investor, businessman, business and citizen.

As long as the political will of the government in Armenia can be above property rights, law and economic freedom, give up your hopes on investments, investments will remain at the level of a dream.

HAKOB KOCHARYAN



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Black Sea-Lake Sevana-Caspian Water Link Concept US CIA Secret 1949

Garo Vardanian

July 12, 2026

On April 18, 2003, the US Central Intelligence Agency declassified and released a document dated June 10, 1949.

The document presents Lake Sevan, the hydroelectric power plants located in the area of ​​the lake, as well as the location of these hydroelectric power plants, what purposes they will serve, and the construction details. We notice from the document that the US CIA spy saw, studied and recorded all that on the spot, after which the report was drawn up.

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It is interesting that the Sevan hydroelectric power station, which is the first hydroelectric power station of the Sevan-Hrazdan cascade, was commissioned in 1949. It is built on the bank of the Hrazdan River, in the mountain massif near the shore of Lake Sevan, at a depth of about 100 m from the surface of the lake. The Sevan HPP was one of the important energy structures of the post-war period and was considered one of the first underground hydroelectric power plants built in the USSR.

Sevan HPP is one of the HPPs in the Sevan-Hrazdan cascade. The construction process of the Cascade began in 1930 and was completed in 1965. It is of great importance for the entire energy system of Armenia. Two of the existing HPPs mentioned in the document are probably the Sevan and Kanaker HPPs.  The latter was put into operation in 1936.

First, let’s present the declassified document of the US Central Intelligence Agency in its entirety below.

“CLASSIFICATION, INFORMATION REPORT, CONFIDENTIAL

COUNTRY: USSR (Armenia/Arctic)

THEME: Hydroelectric power stations in Lake Sevan, Kolezhma and Arkhangel

REPORT NUMBER (CD NO.)

DATE OF DISTRIBUTION: June 10, 1949

Return to the CIA Library

This is notapproved is information

1. There are at least three hydroelectric power stations around Lake Sevan. One of them is a small station located approximately sixty kilometers northwest of the lake, and the two larger stations are located 15-20 kilometers east of the lake. The water flows through two main canals to the hydroelectric power plants and then into streams used for irrigation.

2. The source has no information about any tunnel intended to divert water from Lake Sevan. The source heard only one proposal to bring water from the Black Sea through a canal to Lake Sevan, and from there to the Caspian Sea, in order to raise the latter’s water level.

3. The most significant hydroelectric projects are located in the vicinity of Kolezhma (on the Onega Bay) and Arkhangel. One of them is already completed, and two others are under construction. The foundations are 60 meters below the surface of the earth, and the buildings rise two meters above the ground. The stations are built to withstand bombing.

   

Comment: It is likely that the buildings mentioned in paragraph 3 were built underground, not so much for bombardment as for protection from the cold. The whole report appears somewhat questionable, but is presented so far as it may be of value.”

The document presents American intelligence information from 1949 on Soviet hydropower projects.

Although there are some facts in it that correspond to reality, some information is not confirmed by other sources. It is noteworthy that the authors of the report question the reliability of the presented information. Therefore, the document is more valuable as an intelligence source of the early period of the Cold War, in which a detailed analysis and significance of the hydroelectric power plants in the area of ​​Lake Sevan is presented.

 

The most important information in the document is that the Soviet authorities wanted to bring water from the Black Sea through a canal to Lake Sevan, and from there to the Caspian Sea. However, as the document states, this information is also not confirmed.

Z. I hesitated




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“The majority should decide. Nikol Pashinyan very simple but dirty program

Emil Lazarian

July 12, 2026

On July 2, the former chairman of the National Assembly of the Republic of Artsakh, Ashot Danielyan, issued a statement announcing his resignation.

“After long deliberations, discussions and consultations of the last few days, I have decided to resign from the post of the President of the National Assembly of the Republic of Artsakh.

This decision was not easy for me. I did not assume this position on May 21, 2025 out of personal interest, political ambition or desire to hold a position.

My goal in assuming the position was not to leave the issue of preserving state institutions in a state of limbo, especially at a time when the continuity of Artsakh’s state structures, the political voice of our people and the protection of rights were facing serious danger. This resignation does not mean giving up Artsakh. It does not mean giving up the protection of the rights of our people and the struggle for which our family has already paid with the price of their lives. The position is temporary. Artsakh, the pain of our people, the memory of our heroes and the debt we owe to them is permanent.” statement Ashot Danielyan mentioned in it.

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What fate awaits the National Assembly of Artsakh, are the names of possible presidential candidates being discussed at the moment?

Metaxe Hakobyan, deputy of Artsakh NA “Justice” faction answering these questions, he first said that the claims that the state institutions of Artsakh are being dissolved are irrelevant, it is the dream and goal of those who make such claims.

“Everything that has been happening around the Artsakh representation building for a long time was done by the hands of the people who serve the authorities of the day of RA. I am also talking about people from Artsakh by birth, for whom, naturally, the issue of Artsakh is not important, but material. At least in the last 2 years, they are doing everything possible and impossible so that the representation of Artsakh does not function, and the National Assembly does not exist. Naturally, all this serves the authorities of RA.” of 168.am Metakse Hakobyan said in a conversation with

According to him, when they found themselves in an unspeakable situation a year ago, they were able to organize and change the situation, but that one year should have been used to work effectively, while they had to neutralize the intrigues generated against them during that time.

“Unfortunately, I have to admit that there are unique people in the authorities of Artsakh, also in the National Assembly, who do not stop before any repression by these authorities. In this regard, the ranks are more thinned, but we are trying to at least somewhat correct the situation in this situation.

Of course, discussions are going on, let’s find a solution to the problems with the very limited resources we have. I don’t know how much we will be able to succeed, but we have to do everything,” emphasized our interlocutor.

We asked the MP if there was any pressure on the former Speaker of the National Assembly of Artsakh by the RA authorities, Metaxe Hakobyan answered that the authorities are quite cunning, because at first the direct attack on the Artsakh state institutions did not get a good response, after which they started working in a different way.

“Years ago, I said that Nikol and his group will make it so that the people of Artsakh are involved in the process of handing over Artsakh. Now he is doing it in such a way that he once again puts the closure of the Artsakh issue on the shoulders of the people of Artsakh and says that they closed the issue. Nikol Pashinyan is implementing a dirty but very simple plan with the help of 15 people who, unfortunately, are from Artsakh.

In recent years, we have started to carry out effective activities in the international arena regarding the issue of Artsakh, which has started to worry these authorities,” added Metaxe Hakobyan.

As for the possible candidates for the Speaker of the National Assembly and the question whether it is possible for his name to be among those candidates, Metaxe Hakobyan answered that it turns out that the “Free Fatherland” faction is the majority, there is also an independent deputy and 3 other factions, therefore, they should all vote for this or that candidate.

“The majority should decide. If we talk about me, no pressure can hold me back, for the past 3 years there have been those pressures on me, but we have not given up in any way, because our goal is much more precious than everything that can happen to us. I am ready for any self-sacrifice for the sake of Artsakh. Nevertheless, there is no such discussion yet, the discussion is mostly about the candidacy of a member of larger factions,” emphasized Metakse Hakobyan.

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Why was Nikol Pashinyan focused on Gagik Tsarukyan? Narek Malyan

Vanyan Gary

July 12, 2026

According to him, there was no expediency in knocking the 70-year-old man, Gagik Tsarukyan, to the ground in his house.

“Handcuffs are a special measure, they are used in cases stipulated by law. In the case of Gagik Tsarukyan, there was no need for it, the handcuff was placed on his hand. And what did they take the lions to? I keep a parrot… If they come to arrest me, will they also take my parrot away?” he said.

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  • Investors see what is happening with investors and business in general in Armenia

Narek Malyan noticed that in the second part of the election campaign it was obvious that Nikol Pashinyan’s main target was Gagik Tsarukyan, I don’t know why. It could have been for a variety of reasons. His devotion to Gagik Tsarukyan was different.

“And it was obvious that Nikol Pashinyan will do everything to prevent PAP from overcoming the temporary threshold. as a result, the votes were stolen so that it would not enter the referendum. The government falsified votes in its favor, reduced votes from opposition parties and falsified votes in favor of forces that perhaps wanted to see them through.

Until the last day, according to various public opinion polls, PAP had about 7% of votes. We will have a picture of what actually happened, including how the votes were stolen, after the change of power,” said Narek Malyan.

Details in the video.




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