Let’s distinguish between shareholders in a company and company-state relations. There are many companies in Armenia in which the Republic of Armenia has a 0 percent share, but this does not mean that the state does not oversee that company. Ruben Rubinyan, deputy speaker of the National Assembly (NA) of Armenia, told this to reporters Monday at the NA—and addressing the question of whether if Armenia will have solely a 26 percent share in the TRIPP company, how it will be able to oversee the American side, which will have a 74 percent share in this company.

“If that company, if it is a resident company in Armenia, is registered with the relevant documents, pays taxes, and operates in accordance with the legislation of Armenia. In Armenia there are thousands of companies where the country does not have a share, but the state naturally plays its regulatory role,” Rubinyan said.

“In addition, there is business management. And since the Armenian government will have [a] 26 percent [share], it already has its say in business management. In addition, it is specified that in especially important issues, which, for example, may have some connection with the sovereign interests of Armenia, in that case it is impossible without the consent of the shareholder with that 26 percent [share]; that is, with Armenia’s consent; that is, it has veto power,” noted the deputy speaker of the NA of Armenia.