Ex-state watchdog chief appointed to run Electric Networks of Armenia

On July 18, Armenia’s Public Services Regulatory Commission (PSRC) appointed Romanos Petrosyan as the interim administrator of the Electric Networks of Armenia (ENA), a company owned by Russian-Armenian billionaire Samvel Karapetyan, who is currently in custody in Yerevan.

As reported by Caliber.Az, citing Armenian media sources, the PSRC’s decision followed a formal complaint from the Ministry of Territorial Administration and Infrastructure, which raised concerns over regulatory violations at ENA. The commission met on July 18 to discuss the complaint and subsequently approved Petrosyan’s appointment.

Romanos Petrosyan, who was dismissed from his post as head of Armenia’s State Control Service on July 17 by Prime Minister Nikol Pashinyan, will now represent the state in overseeing ENA operations during the ongoing investigation.

Samvel Karapetyan, owner of the Tashir Group of Companies, was arrested on June 18, 2025, on charges of attempting to incite an illegal seizure of power. His detention has intensified an already tense political standoff between Pashinyan’s administration and the Armenian Apostolic Church, which Karapetyan has openly supported.

Following his arrest, Armenian law enforcement launched a series of raids targeting Karapetyan’s business assets. Several executives linked to ENA were also detained, and criminal investigations have been opened into allegations including money laundering, tax evasion, and other financial crimes.

By Tamilla Hasanova