Russian Deputy Prime Minister Alexey Overchuk has warned Armenia that Russia is following developments around the Armenian nuclear power plant. “We [i.e. Russia] cannot ignore what is happening around the extension of the Metsamor nuclear power plant’s operation and the future of nuclear energy in the country,” Overchuk said in an interview with TASS.

“In response to our question about the reasons for the seizure of the power company, we were told that people in Armenia are dissatisfied with the low level of service.

Whether this is true or not is an internal matter of Armenia,” the Russian deputy premier noted. He added: “Regardless of the background to these events and whoever the Russian investor is, property rights are paramount; this is the basis of any relationship. The seizure of private property by the state does not make Armenia more appealing for foreign investors.”

In his opinion, “regardless of nationality, investors will now come to understand that if it happened to one of them once, there is no guarantee that it will not happen to others.” Overchuk added that “the fact that the company itself was not Russian only reinforces investors’ concerns.” “Consequently, they will assess the country’s investment risks as higher, the value of assets in Armenia will be lower than it could be, and the desire of businessmen to increase profits in the shortest possible time will be greater.

This is the logic of a market economy,” added the Russian deputy PM. “Ultimately, these are the internal problems of Armenian entrepreneurs and consumers,” Overchuk concluded.