The Stockholm arbitral tribunal’s provisional ruling in the ENA case mandates that the Armenian government cease any actions that interfere with ENA’s operations, including participation in its management. International law expert Taron Simonyan emphasized that such measures infringe investor rights, reports Aysor.am .
In response to whether the court order implies recalling manager Romanos Petrosyan, he stated: “The arbitration order explicitly requires refraining from any interference, including in management.”
Addressing the government’s view that “everyone must also act in accordance with Armenian legislation and international treaties,” Simonyan noted that the tribunal’s decision is based precisely on that international treaty, which is an integral part of Armenian law. He affirmed that the government is legally obligated to respect its own legislation.
“Our government is legally vulnerable; I don’t know how they interpret it, but it has nothing to do with law,” he said.
When asked about the consequences of non‑compliance, the expert replied: “Armenia is part of the international community. There are rules Armenia joined and on which it attracts investment and develops its economy. By refusing to comply with a court ruling, Armenia ceases to adhere to those rules. As a result, anyone considering investment in Armenia will hesitate. For example, the World Bank providing investment‑related financing won’t comply, and Armenia’s rating will fall; no investor will wish to invest here.”
Simonyan also stressed that Armenia currently has no legal means to challenge the tribunal’s decision.
When asked if the government could have foreseen these developments, Simonyan responded: “Yes. As I said, our government is taking legally vulnerable steps without regard for international and constitutional obligations. So don’t be surprised by a government that, in violation of the constitution, enacts unconstitutional actions, commits other legal violations, arrests people without any criminal charges… what should we expect from that?”
Samvel Karapetyan won the Stockholm arbitration case against the Armenian government regarding HEC nationalization. In response, the Armenian government stated: “everyone must also act in accordance with Armenian legislation and international treaties.”
