The nationalization of the Electric Networks of Armenia company is not a seizure of private business, and all the respective grounds are defined by legislation. Minister of Economy Gevorg Papoyan stated this during a press briefing after Thursday’s Cabinet meeting of the Armenian government.

“The prime minister noted the first step, which is about management. More detailed amendments to the draft law will be discussed at the special session [of the National Assembly (NA)] in the coming days,” the economy minister added, in particular.

Also, Papoyan mentioned cases when businessmen suffered losses due to power outages in Armenia.

And when asked what they were going to do to prevent these power outages, he said: "There will be a [respective] draft in the NA, and the answers to all these questions will be there, a respective mechanism will be presented."