A court in Yerevan has ruled that opposition Prosperous Armenia Party leader, oligarch Gagik Tsarukyan will be released on bail of AMD 100 million ($200,000).

Tsarukyan was put in custody on September 25 for two months ahead of a trial on charges of vote-buying in 2017 parliamentary elections.

The country's National Assembly stripped the lawmaker of his immunity in June, allowing him to be arrested, after the National Security Service raided his home and interrogated him.

Three criminal cases have been launched against him and companies owned and run by him over illegal business activity, electoral bribery and land alienation.

Tsarukyan's arrest was ordered by the Yerevan Court of General Jurisdiction over allegations of misconduct surrounding the 2017 elections, which preceded the peaceful revolution of spring 2018.