Tashir Capital challenges Armenia's decision on electricity network shares

Tashir Capital said Armenia's decision concerning all shares in Electric Networks of Armenia breaches interim international arbitration measures. Samvel Karapetyan's company said the state would have to compensate investors for losses.

The October 15 government decision recognises an overriding public interest in 100% of the electricity company's shares, opening the way to nationalisation. Tashir Capital's statement challenges the legality of that decision.

The company said an emergency arbitrator appointed on July 22, 2025, by the Arbitration Institute of the Stockholm Chamber of Commerce had ordered the government to refrain from steps towards expropriating ENA.

Tashir Capital also considers the cancellation of the network's licence in November 2025 a breach of the interim measures. In the company's assessment, the authorities' actions will receive an international legal assessment and the state will be obliged to compensate investors fully for their losses.