Edmon Marukyan has warned that the Armenian government’s stance on the Stockholm arbitration ruling regarding the Electric Networks of Armenia (ENA) could lead to severe consequences. He expressed his concern in a post on his Telegram channel.
Marukyan stated that he had consulted international legal experts in New York, Stockholm, and London, all of whom reportedly said they did not know of a single country that has refused to comply with an international arbitration decision.
"The Arbitration Institute of the Stockholm Chamber of Commerce has prohibited any attempt at nationalizing ENA—from asset seizure to management restructuring.
I’ve spoken with various colleagues, top legal experts in New York, Stockholm, and London, and they all agree: no country has failed to comply with such a ruling.
I’m stunned by some statements from Armenian officials implying Armenia could ignore or not implement this decision.
Such an approach is a legal and political gamble, and if the government proceeds with it, our country could suffer severe economic damage," Marukyan wrote.
His statement comes amid ongoing changes in ENA leadership based on legal acts issued by Romanos Petrosyan, the company’s temporary administrator.
On July 22, 2025, the Emergency Arbitration of the Stockholm Chamber of Commerce issued a decision obligating Armenia not to enforce provisions of recently adopted laws on energy and public services against ENA, and to cease all actions related to its possible expropriation.
In response, the Armenian government stated that the scope of the dispute differs from the rationale behind appointing a temporary manager. While it said the ruling would be respected, all parties must still adhere to Armenian legislation.
