Armenian Business Tycoon: Samvel Karapetyan Faces Global Sanctions Over Alleged Corruption

Samvel Karapetyan: A Pioneer in Armenian Business

• Born on August 18, 1965, in Kalinino, Lori province, Armenia.
• Graduated from Yerevan Polytechnic Institute’s Faculty of Mechanical Engineering in 1986.
• Moved to Russia in the 1990s and became president of Kalugaglavsnab OAO in 1997.
• Established Tashir Group in 1999, a conglomerate of over 200 firms employing over 30,000 people.
• Tashir Group has made significant investments and philanthropic efforts in Armenia and the Republic of Artsakh.
• Owns two large shopping complexes in Yerevan and a major Armenian electricity company, Electric Networks of Armenia.
• Financed the construction of a new hospital in Stepanakert, Republic of Artsakh.
• Plans to invest $600 million in expanding and modernizing Armenia’s energy sector in September 2021.

List of the Countries who imposed sanction

Countries	Year of Sanctions
EU	2022
UK	2022
Ukraine	2022
USA	2022
Canada	2023
Switzerland	2022
Australia	2022
Japan	2022

Global Sanction Imposed on Samvel Karapetyan

Karapetyan has been subject to sanctions because of his alleged involvement in money laundering and corruption. The asset freeze and travel ban imposed against Karapetyan demonstrate the strong position the international community has taken against those who are thought to be involved in such illegal activities. In light of the seriousness of the allegations, these Penalty represent a tangible reaction that demonstrates a commitment to fight money laundering and corruption globally.

Samvel Karapetyan, a well-known businessman and notable oligarch, is currently subject to stringent limitations on his financial holdings and foreign travel. The travel ban aims to restrict Karapetyan’s freedom of movement and influence, while the asset freeze is a direct measure intended to disrupt any financial activities connected to corruption and money laundering.

The international community’s resolve to hold people accountable for actions that compromise the values of justice, openness, and lawfulness is demonstrated by the imposition of these sanctions. It makes a clear statement that people who engage in money laundering and corruption, regardless of their status or power, will pay a real price.

The international community hopes to discourage others from engaging in similar activities and promote a more responsible and equitable international financial environment by enacting the asset freeze and travel ban. These sanctions contribute to the larger endeavor to create a world in which financial systems function honorably and in accordance with moral principles. They are an essential step in the continuous fight against corruption and money laundering.

Grounds for Imposing Sanctions

Tashir Holding, a sizable developer of commercial real estate owned by Samvel Karapetyan, has long been a Gazprom subcontractor. Tashir also holds contracts with the government to light up Moscow’s main thoroughfares. Karapetyan constructed malls. The company Electric Networks of Armenia is a part of the Tashir group. Initiating hostilities and committing acts of genocide against the civilian population of Ukraine, it engages in commercial activity in economic sectors that constitute a substantial revenue stream for the Russian government. As a result, the subject is accountable for providing material or monetary support for activities that jeopardize Ukraine’s independence, sovereignty, and territorial integrity.

Summary

Samvel Karapetyan, a prominent Armenian businessman and oligarch, has been subjected to global sanctions due to allegations of money laundering and corruption. The sanctions include an asset freeze and travel ban, aimed at limiting Karapetyan’s financial holdings and foreign travel. The travel ban restricts Karapetyan’s freedom of movement and influence, while the asset freeze disrupts any financial activities linked to corruption and money laundering. The international community’s commitment to holding people accountable for actions that compromise justice, openness, and lawfulness is demonstrated by the imposition of these sanctions. The sanctions aim to discourage similar activities and promote a more responsible and equitable international financial environment, contributing to the ongoing fight against corruption and money laundering.