How the Electric Networks of Armenia Will be Nationalized: Mher Grigoryan Provides Details

Any action related to "Electric Networks of Armenia" will be carried out in accordance with the law, and I believe that both cases and actions are defined by the legislation on energy, which the government or the state can implement in this or that case. This was stated by Deputy Prime Minister Mher Grigoryan.

"I assure you that the possible actions are already described by law in specific cases," he said.

Addressing Prime Minister Nikol Pashinyan's statement regarding the instruction given to state institutions to find mechanisms to compensate the damage caused to the public by EGC, Grigoryan noted: "You know, if the instruction were public, it would be public. Yes, there is an instruction and the work is ongoing, but at this moment, when the position formed as a result of the instructions is formalized, then it will be published. At this moment I cannot say anything more.

"After the deadline, a proposal is formed, and the proposals still need to be discussed. I’m not saying that the instruction has not been executed, but the proposals formed as a result of the execution of the instruction should eventually become public material, which you will become familiar with when it is published."

When asked how private property is nationalized, what mechanisms exist, the Deputy Prime Minister said: "I assure you that the Constitution of Armenia and the legislation describe such cases. I believe our actions by the government or any other state body will be within the framework defined by the law and Constitution.

"If you want to know about potential possible scenarios, I can suggest you to flip through the ‘Law on Energy’, because we are talking about critical infrastructure, and critical infrastructures have regulations, through which all questions are answered. In that sense, I wouldn’t want to say or comment anything more at this moment."

Regarding the issue of whether the fact that EGC is mortgaged poses a problem for nationalization, he replied: "I assure you that there is a specific description in the legislation about what is possible or what should be done in such cases. The state will never take any action that is outside the legislative, let alone constitutional framework. And any investor is very familiar with the legislation, and I assure you that in that case, there will be no extraordinary situation."