Stockholm Arbitration rejects petition by Armenian tycoon Karapetyan

The Stockholm Arbitration Tribunal has fully rejected a petition filed by Russian oligarch Samvel Karapetyan and his family members, including Eteri, Sargis, and Karen Karapetyan, through their company Liormand Holdings Limited.

The decision was issued on December 24, 2025, Caliber.Az reports via Armenian media.

The petition sought, among other things, recognition of Armenia’s alleged failure to comply with an Emergency Arbitrator ruling dated July 22, 2025, in case N EA 2025/121, the reinstatement of the licence of CJSC Electric Networks of Armenia (ESA) and the powers of its management, as well as the removal of a court-appointed temporary manager.

The petition also requested that the tribunal prohibit any forced sale or transfer of ESA shares or other assets.

The tribunal dismissed all claims, concluding that the requested interim measures were unfounded. It also ordered the petitioners to bear all costs associated with the proceedings.

Armenian authorities welcomed the ruling, highlighting that it was issued by a tribunal with full authority to resolve the dispute on its merits, rather than by an Emergency Arbitrator.

Karapetyan has been in custody since June 18, 2025. He was initially charged with publicly calling for the seizure of power and the overthrow of the constitutional order, following his televised defence of the Armenian Apostolic Church amid criticism of the government.

The charges were later broadened to include money laundering, tax evasion, and large-scale economic offences — all of which he and his legal team deny, describing them as politically motivated persecution linked to tensions between Prime Minister Nikol Pashinyan’s administration and the Church.

By Aghakazim Guliyev