ENA Supervisory Board says license revocation a violation of property rights

The Supervisory Board of Electric Networks of Armenia (ENA), owned by jailed businessman and philanthropist Samvel Karapetyan, states that the planned revocation of the company’s operating license amounts to a “blatant encroachment on property rights”.

In a statement issued on Tuesday, the board accused the Armenian authorities of pursuing “a new phase of political redistribution of property”, alleging that the government intends to take control of ENA under the pretext of public interest. The decision is expected to be finalized at the November 13 meeting of the Public Services Regulatory Commission (PSRC).

The board pointed to the lack of market or technical grounds for the move and described it as a politically motivated attack linked to fabricated charges against Karapetyan. It warned that such actions undermine constitutional protections and the stability of Armenia’s energy sector, adding that “society will bear the cost of the Pashinyan government’s adventurism.”