AraratCement Placed Under Armenian Government Management and Custody

YEREVAN — As part of proceedings concerning the confiscation of assets of illicit origin, the Anti-Corruption Court has granted a motion filed by the Prosecutor General’s Office and transferred AraratCement to the management and custody of the Republic of Armenia.

On October 9, 2023, the Prosecutor General’s Office filed a lawsuit with the Anti-Corruption Court against Gagik Tsarukyan and individuals affiliated with him, seeking the confiscation of assets allegedly acquired through illicit means.

Among other assets, the lawsuit seeks the confiscation of AraratCement shares in favor of the Republic of Armenia.

On July 13, 2026, as part of the proceedings, the Prosecutor General’s Office submitted a motion to the Anti-Corruption Court requesting an interim measure that would transfer the management and custody of AraratCement shares to the Republic of Armenia.

In a July 15, 2026, ruling, the court granted the motion, placing the company’s shares under the management and custody of the Republic of Armenia.

The lawsuit also seeks the confiscation of the following assets from Gagik Tsarukyan:

75 properties and the market value of 10 additional properties, 57 of which are located in Yerevan;

42 vehicles;

Ownership interests in 38 companies, including Multi Group, Multi Auto Trans, Onira Club and others; and

105.865 billion drams, representing the balance and expenditure of allegedly illicit income, loans issued, assigned claims and the market value of five vehicles.