Jailed oligarch eyes political revival with new movement in Armenia

Samvel Karapetyan, a Russian-Armenian billionaire and owner of the Tashir Group, has announced the formation of a new political movement titled “Po-svoemu” ("In Our Own Way"), which he says will serve as the foundation for a future political force in Armenia.

Karapetyan issued the announcement from a detention centre where he is currently being held. He emphasized that the movement is not merely symbolic but is rooted in clearly defined ideas and programs aimed at national renewal and reform, Caliber.Az reports, citing Armenian media.

“Our goals are to develop the economy, create real opportunities for business, strengthen family and national values, restore Armenia's authority as a reliable partner, ensure the right of Artsakh residents to a dignified life, restore young people's faith in the future (by developing the education system), and protect and preserve the Armenian Apostolic Church,” Karapetyan stated in his message.

He underscored that “Po-svoemu” will not be a conventional political gesture, but rather the nucleus of a new political force aimed at systemic transformation. The announcement signals a potentially significant shift in the political landscape, particularly given Karapetyan’s financial influence and transnational connections.

Karapetyan also reminded the public that on August 14, a court hearing will take place to consider the extension of his pre-trial detention. The circumstances of his detention remain a point of political and legal contention, as supporters claim the charges are politically motivated.

On June 17, Karapetyan accused the Armenian government of conducting an anti-church campaign, declaring that he would intervene “in his own way” to stop it. Authorities said his statements made in Yerevan amount to a threat to seize power.  As a result, investigators filed criminal charges against him for “publicly calling for the usurpation of power.” A court subsequently approved a two-month pre-trial detention. Karapetyan has denied any wrongdoing.

By Vafa Guliyeva