Jailed Armenian tycoon announces formation of new political movement

Detained Armenian-Russian businessman Samvel Karapetyan has announced plans to form a new political force.

The statement, relayed through his legal team, outlines Karapetyan’s intent to establish “a fundamentally new political team” amid ongoing political tensions in Armenia, Caliber.Az reports, citing Armenian media.

The businessman is currently being held in pre-trial detention on charges of inciting the overthrow of the government.

Karapetyan, head of the Russia-based Tashir Group and one of Armenia’s most influential tycoons, said he respects those who have sincerely opposed Prime Minister Nikol Pashinyan’s administration but made it clear he envisions a different future for the country.

He intends to pursue his path at the helm of his own team, while not ruling out cooperation with like-minded political forces. These figures reject the societal division into “black” and “white” groups — a division the authorities have imposed on the people.

For the record, Samvel Karapetyan, a Russian-Armenian billionaire was arrested in Yerevan on June 18, 2025, on charges of publicly calling for the overthrow of the Armenian government, violating Part 2 of Article 422 of Armenia’s Criminal Code. The charges stem from statements Karapetyan made in support of the Armenian Apostolic Church (AAC), which has conflicted with Prime Minister Nikol Pashinyan’s administration. Specifically, Karapetyan denounced Pashinyan’s attacks on the AAC and its leader, Catholicos Garegin II, vowing to “intervene in our own way” if political leaders failed to address the issue.

By Khagan Isayev