On 22 July 2025, the Emergency Arbitration of the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) ordered the government of the Republic of Armenia to refrain from applying the provisions of the newly adopted laws “On Energy” and “On the Public Services Regulatory Authority” to Electric Networks of Armenia CJSC (ESA), as well as from taking any further steps toward expropriating the company. This was reported on Facebook by the Council for the Protection of Samvel Karapetyan.
The claim was initiated by philanthropist and entrepreneur Samvel Karapetyan and his family members under the procedure provided by the Agreement on the Promotion and Reciprocal Protection of Investments between Armenia and Cyprus, signed in 1995. A representative of the Armenian government participated in the proceedings.
The tribunal concluded that urgent protective measures were necessary, stating that the actions of the Republic of Armenia “raise serious doubts” about its compliance with the obligations under the bilateral investment agreement. According to the arbitrators, without such protective measures, it would be “difficult for the claimants to receive full compensation for damages” if they lose control or ownership of the company.
According to the Council for the Protection of Samvel Karapetyan, the emergency arbitration ruling is binding on the government of the Republic of Armenia. The parties now await the substantive hearing of the dispute.
