Pashinyan’s 'adventurism' could put Armenian state assets at risk, analyst warns

Political analyst Suren Surenyants has criticized the Armenian government's response to a ruling by the Arbitration Institute of the Stockholm Chamber of Commerce regarding the nationalization of the Electric Networks of Armenia (ENA).

“Leaders like Nikol Pashinyan, intoxicated by revolutionary arrogance, seem to believe their whims are above the law,” Surenyants wrote on Telegram on Wednesday.

The analyst stressed that while such a mindset might be tolerated domestically, it inevitably clashes with international legal norms.

On July 22, the Stockholm arbitration tribunal ordered Armenia to halt the enforcement of newly adopted laws targeting ENA and to cease all expropriatory actions against the company. The ruling is binding.

In its official response, the Armenian government cited national security and domestic legislation. However, Surenyants warned that from an international law perspective, such arguments fall short.

Failure to comply with the ruling, he cautioned, could result in hundreds of millions of dollars in compensation claims, the freezing of Armenian state assets abroad and severe damage to Armenia’s investment climate.

“The Stockholm decision makes it clear that breaches of international agreements can come at a very high price,” Surenyants noted. He urged the Armenian government to seek a negotiated resolution, warning that ignoring the ruling could harm not only the country’s finances but also its global standing.