President of Armenia Vahagn Khachaturyan has signed a legislative package that includes a law enabling the potential nationalization of the Electric Networks of Armenia (ENA).

“The President signed the laws amending the Law on the Public Services Regulatory Commission, the Law on Energy, the Law on Bankruptcy, and the Law on State Registration of Legal Entities, their Separate Subdivisions, Institutions, and Individual Entrepreneurs,” the presidential press office announced.

On July 3, the National Assembly adopted a set of legal amendments granting the government authority to nationalize the ENA.

On June 18, following the arrest of ENA owner and businessman Samvel Karapetyan, Prime Minister Nikol Pashinyan declared that the time had come to nationalize the Electric Networks of Armenia CJSC. He also warned that employees unwilling to cooperate with the state would be dismissed. On June 24, the Prime Minister announced that the program for ENA’s nationalization had been finalized.