Armenia opposition politician questions asset recovery claims

Armenian opposition politician Mesrop Arakelyan has dismissed government claims of recovering hundreds of millions of dollars in assets allegedly stolen under previous administrations, arguing that the figures represent only a fraction of past state budgets and have little impact on public finances.

Arakelyan, co-founder of the Country to Live party, said the authorities had reported the return of about $773 million worth of property and funds over the past eight years, but noted that most of the assets were real estate with “zero effect” on the state budget. He estimated that the recovered amount equals just 0.5% of the combined $170 billion value of Armenia’s budgets between 1998 and 2017.

“When we see how former officials continue to expand their businesses and enjoy life under Nikol Pashinyan’s government, it becomes clear that asset recovery is not reality but another unfulfilled promise,” Arakelyan said.

“The recovery of stolen assets will eventually take place, including those misappropriated under Nikol Pashinyan’s rule,” he added.

Earlier on Tuesday, the Prosecutor General’s Office announced that between 2018 and 2025, about 291.7 billion drams ($773 million) in property and funds had been restored to state and community ownership, with nearly two-thirds of that recovered in 2023-2025.