What Has Ruben Vardanyan, Accused of Terrorism, Spent Money On? Forbes

The authoritative Forbes publication has published an extensive article about Armenian businessman and philanthropist Ruben Vardanyan, who is currently unlawfully detained by Baku. The article states, "In the autumn of 2022, Ruben Vardanyan renounced his Russian citizenship, moved to Nagorno-Karabakh, and from November 4, 2022, led the government of the unrecognized republic. After resigning from this position in February 2023, he continued to live in Karabakh. On September 19, Azerbaijan announced the start of 'local anti-terrorism operations' in the unrecognized republic and gained control over its entire territory within a day. A week later, Vardanyan attempted to leave Nagorno-Karabakh but was arrested at the border checkpoint by Azerbaijani security forces. Azerbaijan accuses him of illegally crossing the border, financing terrorism, and creating illegal armed groups.

Forbes has compiled a selection of key charitable projects on which billionaire Ruben Vardanyan has spent money. Shortly after Vardanyan was appointed head of the Artsakh government, Azerbaijan labeled him as a 'foreign element' in Karabakh. 'The sooner this person leaves, the better for everyone; primarily, the local population suffers,' stated Azerbaijani Foreign Minister Jeyhun Bayramov at the time. Almost simultaneously, in December 2022, the Lachin Corridor connecting Karabakh with Armenia was blocked. This blockade lasted until September 2023 and ended with the cessation of the unrecognized republic's existence and the flight of the entire Armenian population to Armenia.

Vardanyan's hostile treatment by Azerbaijan is quite understandable; thanks to his assistance, Karabakh managed to withstand during the blockade. In 2022, he helped establish the 'We are our mountains' Territorial Development Agency. Through this agency, his family's funds and donations from donors (approximately $450,000) were used to purchase and distribute more than 187 tons of food to the residents of Karabakh. Additionally, 96 tons were received free of charge through the agency. Water supply and heating systems were procured for a total of $187,000, while about $110,000 was spent on creating mobile first-aid teams for rural residents, including the purchase of electric vehicles. Approximately $172,000 was spent on gifts for 12,000 children under the age of 10 during the New Year.

According to sources from the IDeA Foundation, founded by Ruben Vardanyan, he and his partners have invested more than $700 million in Armenia, Artsakh, and beyond from 2001 to 2023. Besides contributions to Armenia's economic development, around $430 million has been allocated for education ($201 million), humanitarian initiatives ($68 million), cultural and historical heritage preservation ($20 million), and regional development through tourism, urban development, and infrastructure projects ($108 million) and projects in science and technology, healthcare, and agroecology ($13 million).

Vardanyan has invested $8 million in various programs in Nagorno-Karabakh. He began helping the unrecognized republic long before moving there. In 2008, the 'Great Artsakh Wedding' project took place, where about 700 couples married simultaneously. Ruben Vardanyan was a godparent to 232 of the newlyweds, and later to 428 children born as a result of these marriages. In 2017, he was involved in the restoration of the Holy Mother of God Church in Mushkapat village, and in 2019, he completed the restoration of the Gevhar Agha Mosque in Shusha.

The American agency goes on to describe Ruben Vardanyan's largest charitable projects in detail, notably addressing the United World College Dilijan, the Tatev Renaissance project, the Aurora prize, assistance to Armenians in Nagorno-Karabakh, the Metana International School, and more.