EU is getting increasing co-operation with Eastern European partners on Russian circumvention

As the EU has done in the past with Ukraine and Moldova and is expected to do the same with Georgia, EU–Armenia relations are in the spotlight this July as Prime Minister Nikol Pashinyan met European Council President António Costa and Commission President Ursula von der Leyen in Brussels, to strengthen the fight against Russian sanctions circumvention.

While the official joint press release highlighted reforms, visa liberalisation, and €2.5 billion in EU investment commitments, questions remain about what was not said on the record.

EU Reporter understands from a source familiar with the discussions that several names were discussed, most precisely the name of Armenian-Russian businessman Samvel (Samuel) Karapetyan, head of the Tashir Group, was raised at some point during or around the leaders’ meeting.

According to this account, the reference concerned allegations of possible sanctions circumvention and Karapetyan’s alleged links to Gazprom.

The official communiqué made no mention of Karapetyan or of any specific business figures. When contacted by EU Reporter, EU officials reiterated that the press release reflected the full on-the-record agenda, which covered sovereignty, democratic reform, economic assistance, and security cooperation — but did not confirm or deny whether individual names were raised behind closed doors.

Karapetyan’s controversial profile

Karapetyan, an Armenian-born businessman long resident in Russia, is one of the wealthiest figures in the post-Soviet space. Through his Tashir Group he has investments in energy, construction, retail and real estate.

In Armenia he has been associated with major infrastructure projects, including in the energy sector, where his companies have historically dealt with Russian interests.

In recent months, Karapetyan has faced legal and political controversy in Armenia. Local media reports that he has been detained amid accusations of political interference and disputes with the government. He has also pursued international arbitration against Armenia over energy sector holdings. These developments have given his name heightened sensitivity both domestically and internationally.

While the details remain opaque, the case highlights European regulators’ concerns that certain oligarchs may serve as vehicles for Russia’s strategic energy interests abroad.

For Brussels, the issue of sanction enforcement and circumvention is central.

Other oligarchs under scrutiny

Karapetyan is not the only oligarch whose name circles in discussions about Armenia’s future path.

• Gagik Tsarukyan, the businessman-politician behind the Prosperous Armenia Party, remains a powerful figure despite past corruption investigations. His vast holdings in construction, casinos, and beverages give him leverage across multiple sectors.
• Ruben Vardanyan, a billionaire financier with strong links to Russia, briefly served in Nagorno-Karabakh’s de facto administration before being arrested by Azerbaijani authorities in 2023. His trajectory underscores how business elites can become entangled in regional geopolitics.
• Sergey and Mikael Baghdasaryan, among others, have been cited by analysts for maintaining influence in Armenia’s energy and mining industries, often with cross-border connections to Russian interests.
  These figures illustrate the structural challenge facing Armenia: its oligarchic networks, many with ties to Moscow, remain entrenched even as Yerevan courts closer integration with the European Union.
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  Speculation around Karapetyan’s influence also touches on the role of the Armenian Apostolic Church, which maintains deep historical and spiritual ties with the Russian Orthodox Church. Religious institutions in both countries are often seen as conduits of soft power, reinforcing cultural and political links even as Armenia seeks closer alignment with the European Union.
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  Church connections and soft power
  Analysts suggest that Moscow’s influence may be exercised not only through business and energy networks but also through these ecclesiastical relationships, which remain highly respected within Armenian society. Against this backdrop, any discussion of oligarchs with strong Russian ties may also raise broader concerns about the resilience of Armenia’s independence in the religious and cultural sphere.

EU stakes and sensitivities
The EU is deepening its partnership with Armenia, agreeing on a New Partnership Agenda and promising expanded investment through its Global Gateway initiative. Brussels is also keen to prevent Armenia from becoming a conduit for sanctions circumvention — a theme that has featured prominently in EU communications about the South Caucasus.

Speculation versus confirmation
For now, the suggestion of Karapetyan’s presence in the Brussels discussions remains unverified beyond the account of one source. EU Reporter has asked both the European Council and the European Commission for on-the-record clarification, and will update this story should an official response be provided.

Photo by Anastacia Dvi on Unsplash

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