ENA manager must change after arbitration ruling, says auditor

PanARMENIAN.Net - Nairi Sargsyan, head of Armenia’s Audit Chamber, stated that the ruling by the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) regarding the Electricity Networks of Armenia (ENA) must be enforced, and the company’s management should be changed accordingly.

He outlined two possible scenarios for implementing the decision. The first is the legal route, which, he emphasized, means recognizing the binding nature of an international court's ruling. “Accordingly, the authorities must go to the State Register of the Ministry of Justice and register the managerial change so that ENA can continue operating normally starting today,” Sargsyan told Sputnik Armenia.

The second scenario, he warned, involves a force-based approach led by the authorities. “In other words, acting solely through coercion or in a style typical of Nikol Pashinyan’s administration. There may still be artificial delays created. But those obstacles are also subject to legal consequences and assessment,” he added.

Earlier, businessman Samvel Karapetyan’s legal team reported that he had won an urgent arbitration case against the Armenian government. In response, official Yerevan said Armenia remains bound by both domestic law and international agreements governing the recognition and enforcement of arbitration awards.

On July 18, Armenia’s Public Services Regulatory Commission appointed Romanos Petrosyan—former head of the government’s oversight service—as the temporary new manager of ENA, and opened an administrative case based on government reports.