MFA: Moscow to respond to violation of Russian companies' interests in Armenia

Russia closely monitors the observance of the interests of its economic operators in Armenia, Russian Deputy Foreign Minister Mikhail Galuzin said, Report informs referring to the Russian Foreign Ministry.

According to him, a violation will not only damage the investment climate of the Republic of Armenia but will also not be left without a proper reaction from the Russian side.

"We regularly raise the issue of working conditions for Russian business in Armenia in our contacts with the Armenian side. At various levels, we have been assured that domestic investments are not threatened. However, as we can see, these statements do not entirely coincide with reality. More and more experts agree that there are signs of a 'redistribution of property' in the republic for political reasons," Galuzin said.

As an example, the deputy minister cited the ongoing nationalization of the Electric Networks of Armenia CJSC, owned by Russian-Armenian businessman Samvel Karapetyan.

In addition, Galuzin emphasized that the Russian side takes with all seriousness the statements by the Armenian leadership about the need to sell the concession of the South Caucasus Railway CJSC - a subsidiary of Russian Railways JSC - to a third country for the management of the Armenian railway network.

According to the Foreign Ministry, the investments of the South Caucasus Railway CJSC since 2008 have amounted to about $388 million, and tax payments - to about $194 million.