Samvel Karapetyan to lead new political force, says nephew

By Siranush Adamyan

Russian-Armenian billionaire Samvel Karapetyan will personally lead the new political force currently being formed under his name, according to a statement made by his nephew and Tashir Group Vice President Narek Karapetyan.

Speaking to reporters on Sunday in the courtyard of the Mother See of Holy Etchmiadzin, Narek Karapetyan said the jailed tycoon would be both the political and ideological head of the emerging team. “Samvel Karapetyan will be the leader of our team, the head of our political direction, and under his guidance, we will move forward,” he said.

Narek Karapetyan declined to answer directly when asked whether former Prime Minister Karen Karapetyan might be nominated as the party’s candidate for prime minister. “In a parliamentary system, the governing party elected by the people proposes the candidate for prime minister. And if that prime minister does not perform well, the same party should have the ability to replace him. That is our principle,” he stated.

Under Armenia’s Constitution, a candidate for prime minister must be at least 25 years old, have held only Armenian citizenship for the past four years, have resided permanently in the country during that time, possess voting rights, and be proficient in the Armenian language. Karapetyan’s dual citizenship—he also holds a Russian passport—could therefore impede his eligibility for the post.

Narek Karapetyan added that their policy approach—whether economic, social, or foreign—would follow the roadmap outlined by Samvel Karapetyan, and the team would be formed based on professional qualifications.

The creation of a new political force was first announced by Samvel Karapetyan on July 14 from pre-trial detention. In a message published by the “Samvel Karapetyan Defense Council” Facebook page, the businessman said that despite his respect for existing political figures and groups that have opposed what he called the “anti-national” policies of Prime Minister Nikol Pashinyan, he and his team “have their own vision for building a better future for Armenia.”

Arrest and mounting pressures

Samvel Karapetyan was arrested on June 17, shortly after voicing support for the Armenian Apostolic Church and Catholicos Karekin II amid a heated standoff with Prime Minister Nikol Pashinyan. He was charged with inciting regime change and later faced additional accusations of fraud, tax evasion, and money laundering. His lawyers maintain that the charges are politically motivated.

Karapetyan’s arrest was followed by a government push to nationalize the Electricity Networks of Armenia (ENA), his most prominent asset in the country. The move has drawn sharp domestic and international criticism, triggered emergency arbitration proceedings in Stockholm, and sparked warnings from economists and legal experts about Armenia’s investment climate.

Despite mounting concerns from opposition figures and foreign investors, Pashinyan’s government has pressed forward with the takeover and is expected to install a political ally to head the utility. Karapetyan’s political emergence is widely seen as a direct response to what his supporters describe as a campaign of political persecution.