The assets of Russian companies operating in Armenia have once again come into focus. Allegedly, Prime Minister Nikol Pashinyan discussed imposing an additional tax burden on Russian enterprises operating in the country and even transferring their shares to state control to compensate for losses caused by Russia's export restrictions.
Modern.az reports, citing Armenian media, that the issue was discussed at a meeting of the Board of the ruling “Civil Contract” Party.
According to the information, Pashinyan urged party members not to panic due to Russia's export restrictions. He stated that Armenia could compensate for lost export revenues by increasing taxes for Russian enterprises operating in the country or by taking a portion of their shares under state control.
According to experts, the volume of Russian assets in Armenia is quite large, accounting for approximately 90 percent of foreign investments. The total value of these investments is reported to be close to $5 billion.
Among the main assets controlled by Russia are the South Caucasus Railway, the Hrazdan Thermal Power Plant, the gas network managed by “Gazprom Armenia,” mining industry enterprises, as well as the Armenian division of VTB Bank, which is considered one of the country's leading financial institutions.
Currently, there is no official decision at the level of the Armenian government regarding the confiscation of Russian assets. However, it is noted that these ideas have gained support in certain parts of Armenia's political circles.
Observers believe that discussions about the confiscation of Russian assets could be used as a means of pressure in future relations with Moscow. In particular, it is not excluded that this topic may be brought up in negotiations regarding the prices of natural gas, oil products, and other energy resources imported from Russia.
