Armenia moves to seize millions from opposition oligarch’s relative

Armenian authorities will confiscate around $3.475 million, 2,000 bank shares, and real estate from Karapet Guloyan, the son-in-law of oligarch Gagik Tsarukyan, in favour of the state.

The court ruling in the case has entered into force, Caliber.Az reports, citing Armenian media.

Gagik Tsarukyan has been active in politics since 2003 and is the founder and leader of the Prosperous Armenia party, which has long been one of the country’s largest opposition forces.

Despite temporarily stepping back from active politics, Tsarukyan announced in 2025 his intention to take part in the 2026 parliamentary elections through the “Proposal for Armenia” platform.

In recent years, he has been under investigation in Armenia over alleged illegally acquired assets.

By Bakhtiyar Abbasov