The Armenian government will initiate a process to declare the shares of Electric Networks of Armenia (ENA) a supreme public interest and proceed with their expropriation (nationalization), ENA temporary manager Romanos Petrosyan said on Facebook.

On May 25, the deadline established by Armenia’s Administrative Court under interim measures expired. During that period, ENA shareholders were expected, based on a government proposal, to transfer 100% of the company’s shares under terms coordinated with the government.

The government had offered the owners — the family of Samvel Karapetyan — $380,000 to acquire ENA. Karapetyan considered that amount unacceptable, and negotiations with the Armenian government did not take place on May 25.

“Considering the fact that no transfer of shares occurred within the established timeframe, and guided by Part 3 of Article 52 of Armenia’s Law on Energy and Article 60 of the Armenian Constitution, the Armenian government will initiate the process of declaring the shares of Electric Networks of Armenia a supreme public interest and proceed with their expropriation (nationalization),” Petrosyan wrote.

On July 3, 2025, Armenia’s National Assembly adopted amendments to the laws “On the Public Services Regulatory Body” and “On Energy,” a package known as the ENA nationalization project. On July 18, it became known that the Public Services Regulatory Commission had appointed Romanos Petrosyan, previously dismissed as head of the State Control Service, as temporary manager of Electric Networks of Armenia. The commission also launched proceedings against ENA based on a government submission.