If Armenia is considering the possibility of terminating or changing the terms of the concession agreement, then Russian Railways has the right to expect the return of investments invested in its railways. This was announced today, July 30, by the CEO of the Russian company Oleg Belozerov.
So he commented on the words of Armenian Prime Minister Nikol Pashinyan that the issue concerning the management of the country's railways by the Armenian "daughter" of Russian Railways may reach arbitration.
"One way or another, all the rights and obligations of the parties are spelled out in the concession agreement, to which the Armenian government is also a party. For our part, we intend to firmly adhere to it, and if the Armenian side is considering the possibility of terminating it or changing its terms, we have the right to expect a return on our investments," Belozerov said.
According to him, Russian Railways was surprised and perplexed to learn from the press about the possible collection of payment for the lease of Armenian railways, because all profits remained in the republic — went to the development of the railway.
"From 2008 to 2025, investments from the funds of JSC "Russian Railways“ and the revenues of the SCR itself amounted to 146 billion drams (145.77 billion drams or about $ 396.3 million), which is fully documented," Belozerov recalled. — Salaries are regularly indexed to two and a half thousand employees, the next increase was implemented on April 1, 2026.".
In addition, the elimination of the consequences of the Debed River spill in Armenia was financed from the Reserve Fund of Russia.
"Joint efforts of JSC "SCR" and JSC "Russian Railways“ eliminated the consequences of the devastating spill of the Debed River in 2024, railway traffic was opened 17 days later. The costs of carrying out the work by decision of the government of the Russian Federation are financed from the Reserve Fund," Belozerov said.
In 2021, 27 new railcars manufactured by Transmashholding JSC were delivered to Armenia, and four new EP2D electric trains were purchased over the years.
As EADaily reported, Armenian Prime Minister Nikol Pashinyan said he could demand an annual fee of $ 2 billion from Russia for the use of the railway infrastructure, which Yerevan considers its property. He stressed that he intends to resolve the issue peacefully, but did not rule out recourse to international arbitration if an agreement fails.