The Armenian government is prohibited from nationalizing Electric Networks of Armenia (ENA) following a ruling by the Arbitration Institute of the Stockholm Chamber of Commerce. The decision supports businessman Samvel Karapetyan in the urgent arbitration case, barring enforcement of provisions from Armenia’s recent energy laws.
Lawyer Aleksandr Kochubayev commented on Facebook that the ruling clearly blocks the government from taking over ENA:
“In plain terms, the Stockholm Chamber of Commerce's Arbitration Institute has ordered the government to refrain from nationalizing ENA. Romanos will exit ENA — no further comments needed, just remember Eeyore from Winnie the Pooh.”
Narek Karapetyan, chairman of ENA's Board of Directors, also addressed the decision in favor of Samvel Karapetyan:
“The court has prohibited the Armenian government from:
– confiscating or selling ENA’s assets
– altering its governance bodies
– revoking its operational licenses
– and otherwise restricting its business operations.
This ruling shows that justice works globally and is not enforced via Facebook, unlike in Armenia today.”
Karapetyan emphasized that the decision internationally affirms the impermissibility of government pressure on the company and underscores the primacy of legal mechanisms over attempts to deliver justice through social media.
Entrepreneur and philanthropist Samvel Karapetyan, detained for two months, and his family have won an emergency arbitration case against the Armenian government's efforts to nationalize ENA. On July 22, 2025, the Stockholm Chamber of Commerce’s Emergency Arbitration ruled that Armenia must not apply new energy sector regulations to ENA and must halt all steps toward potential expropriation.
