MFA: Russian entrepreneurs express caution over investments in Armenia After oligarch Karapetyan’s arrest

Russian entrepreneurs are growing increasingly cautious about the future of their business projects in Armenia after the recent arrest of Russian-Armenian oligarch Samvel Karapetyan, Mikhail Kalugin, Director of the Fourth Department for CIS Countries at the Russian Foreign Ministry said.

Kalugin shared concerns that this development could negatively impact investor confidence in Armenia, Caliber.Az reports via Armenian media. 

According to Kalugin, there have been signals that Russian businesspeople are now questioning the stability of Armenia's investment climate. This uncertainty, he noted, could hinder the continued growth in bilateral trade between the two nations.

Russian-Armenian oligarch, the owner of the Tashir Group, was arrested in June 2025. He faces charges under Article 422 of Armenia’s Criminal Code for “public calls to seize power”. The charges relate to a June 2025 statement in which Karapetyan voiced support for the Armenian Apostolic Church amid rising tensions with Pashinyan’s government. In the statement, he criticised what he called the government’s “political incompetence,” its growing distance from Russia, and its attacks on the Church. 

From jail, he launched the "Our Way" movement, accusing the government of anti-Christian policies.

By Sabina Mammadli