David Ghazinyan, acting CEO of the Electric Networks of Armenia (ENA), called the proposed nationalization of the company a legally unsound initiative, stating he is ready to defend this claim in any format. Speaking at a press briefing, he asserted that seizing such a major investment “by any means possible” is unjustified, particularly considering the owner’s pro-state stance, reports Aysor.am .

“There’s a fight against us in a ‘no-rules’ format. Since the owner is a patriotic figure, we are preparing to contest this process legally—even if the state’s resources are limited. We will do so with the help of international organizations and partners,” said Ghazinyan.

He noted that no government official has contacted the company, not even informally. “No calls, no documents, no attempts to discuss anything. We also have shortcomings—no one is perfect—but there’s been no outreach. I believe the authorities are afraid they’ll come off worse in a debate. This borders on institutional madness,” he added.

Ghazinyan argued that it is abnormal for a nationalization process to be initiated this way, insisting that the government is effectively trying to seize the company.

He pledged a strong legal response. Asked whether ENA’s ownership could be bargained for Samvel Karapetyan’s freedom, he firmly denied the possibility. “Knowing Karapetyan, such a deal is impossible. Their wish might be to strike a deal, but knowing him, it’s absolutely out of the question,” he said.

Regarding rumors of government promises to employees, such as salary increases, Ghazinyan said there’s no proof of coercion, but dismissed the salary claims as fiction. “We have 6,800 employees. A 30% raise would affect tariffs—unless three million people start paying more,” he noted.

He also pointed out that prior to recent events, authorities had expressed satisfaction with ENA’s reform progress.

Prime Minister Nikol Pashinyan earlier stated that a nationalization plan for ENA is ready and that a draft law has been submitted to Parliament. He claimed the Church served as a ‘smokescreen’ for the company’s owners and accused ENA of nearly causing an energy crisis.

On June 18, Armenia’s Public Services Regulatory Commission fined ENA 10 million drams.