Russian business alerted — Foreign Ministry about the arrest of Samvel Karapetyan in Armenia

Russian entrepreneurs have become wary of assessing the prospects of their projects in Armenia after the arrest of the head of Tashir Group of Companies, Samvel Karapetyan, said Mikhail Kalugin, director of the Fourth CIS Department of the Russian Foreign Ministry.

"We are bringing signals that in a similar situation, our other entrepreneurs have become wary of assessing the prospects of their projects in Armenia, asking questions about the sustainability of its investment climate, which is unlikely to serve to maintain the upward dynamics of bilateral trade," RIA Novosti quoted Kalugin as saying.

Samvel Karapetyan, the owner of Tashir Group, was charged and arrested in Armenia after the businessman declared his support for the Armenian Apostolic Church against the background of attacks by the authorities. The businessman pleaded not guilty. The Armenian authorities are trying to nationalize the "Electric networks of Armenia" owned by Karapetyan.