Modern.az

Ruben Vardanyan sold his business in Russia

Ruben Vardanyan sold his business in Russia

7 October 2025, 11:18

It has become known that Ruben Vardanyan, an Armenian citizen accused under the articles of the Criminal Code of the Republic of Azerbaijan related to crimes against peace and humanity, war crimes, as well as terrorism and financing of terrorism, has completely sold his business in Russia.

Modern.az reports that R. Vardanyan has completely left the Russian automotive industry by selling his stake in the “Atom Electric Car” project.

“Kommersant” has learned that Vardanyan's 25% stake in “Vosxod” LLC, which is the main shareholder of “Kama”, has been transferred to the company itself.

KamAZ CEO Sergey Kogogin (37.5%) and Spektr LLC (37.5%) now remain as co-owners of "Vosxod".
In the autumn of 2024, Vardanyan also ceased to be a co-owner of KamAZ. Experts believe that the Armenian businessman's departure from the project is related to his current situation.

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