Today the Republic of Armenia is the most impoverished country of the South Caucasus. Welfare of the nation is deteriorating on a daily basis; its citizens are compelled to work like slaves to make ends meet while the lucky ones seek better fortune through slavery abroad.
Most horrific is that incumbent leadership in Armenia squanders away what is left of public funds and indulges itself with the life of royalty. The country has totally become a private enterprise of the ruling family. A system of domination has been established in Armenia that combines political power, law-enforcement institutions and oligarch businessmen. This political-criminal-oligarchic system, led by the President Sarkisyan, has completely monopolized political, economic and business domains in the country.
Most lucrative areas of the country’s economy are now split between two groups representing incumbent President S. Sarkisyan and his predecessor Robert Kocharyan. Sarkisyan was able to fortify his position throughout his tenure and in some areas even bereaved resources of the businessmen affiliating with R. Kocharyan, and the process is only intensifying.
Despite his departure from office, up until 2008, Levon Ter-Petrosyan was allowed business operations through some affiliated circles, especially head of the “SIL” group Khachatur Sukyasan (nicknamed Grzo). However, the “SIL” group’s vocal support of Ter-Persoyan during the presidential election campaign in Armenia in 2008 resulted in a fabricated court case and eventual takeover of the company’s assets by Sarkisyan.
Here is the list of some assets within Sarkisyan’s business empire:
- Alcoholic beverages production;
- “Ararat Bank”;
- “Ararat” restaurants chain (30 branches);
- “Armavia” airlines;
- “BTB” Bank – Armenia. Armenia Branch of the bank was acquired for $300.000 and later sold for $28 million;
- Three liquor production facilities in the occupied Nagorno Karabakh, including “Gadrut wine factory” ran through “MIKA Group”;
- Assets of “Flash” (www.flashltd.am) (official owner is Barseq Baylaryan). Primary area of activity is wholesale and retail petroleum and diesel fuel sales;
- “Global Contact” offshore company;
- Mansion in London, UK;
- Assets of the “MIKA Group” (www.mikagroupbd.com). Head of the company is a Baku-born Armenian Mikhail Bagdasarov. Company mainly deals with real estate development, financial brokerage, ICT, wheat processing and flour production and distribution. In the meantime, its primary field of activity is the import of aviation fuel, gasoline and diesel. The company enjoys a monopoly in this field. Another area with a monopolistic position is construction and production of construction materials, carried out by the sub-companies of “MIKA Cement” and “MIKA House”. “MIKA” football club is valued at $40-50 million. “MIKA-Karabakh” is engaged in jewellery production in the occupied territories of Azerbaijan.
- 50% shares of “Armsberbank” managed by “MIKA Group”, “Jazzve” coffeehouses and official distributorship of “Phillip Morris”. This network is controlled by Sarkisyan’s son-in-law Mikhael Minasyan;
- Hotel/restaurant complex in Moscow;
- “ArmenAkob” and “Ay-TV” channels, ran by Minasyan and other associates;
- Small arms trade company dealing with Bulgaria in the acquisition and third country transfers of firearms during Sarkisyan’s tenure as a Defense Minister;
- Petro refueling stations network.
Key persons in S. Sarkisyan’s business empire are the “MIKA Group Limited” boss Mikhail Bagdasarov and “Flash” boss Barseq Baylaryan. Both are considered Sarkisyan’s closest associates and most reliable companions. Additional information on the activity of these individuals will follow.
Kaynak: Newtimes.az
