Armenia faces four arbitration lawsuits totaling $1.5 billion

As of now, four arbitration cases have been filed against Armenia, with total claims amounting to $1.5 billion.

The Armenian government disclosed this information in response to a written inquiry from the Zhokhovurd newspaper, Caliber.Az reports.

The claimants include Walnort Finance Limited, a shareholder in the Zangezur Copper and Molybdenum Combine; Amulsar Investor Ventures LLC, a stakeholder in Lydian International; Sanitek S.a.r.l. along with Sari Haddad and Elias Doumet, the former waste management operator in Yerevan; and Air Arabia, the airline and co-founder of FlyArna.

All four cases are currently under review in arbitration courts.

By Tamilla Hasanova