The Electric Networks of Armenia (ENA) company has been de facto nationalized; this will soon be formalized de jure, Prime Minister Nikol Pashinyan announced at a press briefing after the Cabinet meeting of the Armenian government on Thursday.

He assured that the Armenian authorities have warned dozens of times that this cannot continue.

“This has been going on for years. A decision has been made. Electric Networks of Armenia is now under the control of the RA [i.e. the Republic of Armenia] government—and will remain so,” Pashinyan said.

The premier noted that their ultimate goal is to legally recognize ENA as the property of Armenia and attract the most efficient and professional manager who will manage the company in a manner that protects the interests of consumers.

Nikol Pashinyan added that they will try to attract this manager through an international and transparent tender.