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Minval Politika has published new video material which it says points to informal political understandings between Armenian businessman Samvel Karapetyan and former Armenian president Robert Kocharyan ahead of Armenia’s parliamentary elections.
The material centres on remarks attributed to Armen Arshakyan, Director for Economics and Finance at Electric Networks of Armenia, during a conversation about Karapetyan’s political plans and possible alliances.
Karapetyan has sought to present himself as an independent political figure, separate from Armenia’s older political elite. However, according to Minval Politika, the recording suggests that his public distance from Kocharyan may not reflect the full political picture.
In the video, Arshakyan is asked whether Karapetyan has agreements with other political forces if he expects a strong election result. He says such agreements exist, but are not formally documented.
Arshakyan then refers to Kocharyan as the next major political force after Karapetyan. He describes the former Armenian president as a figure linked both to Armenia and to the former separatist structure in Garabagh.
When asked whether Karapetyan and Kocharyan have “some kind of understanding”, Arshakyan replies that there is one. He also says the two men are friends, adding that in Armenia it is difficult to be involved in major business without being close to power.
One of the most notable parts of the alleged conversation concerns why Karapetyan and Kocharyan have not officially joined forces.
According to Arshakyan, the so called Garabagh clan carries negative political baggage, and an open alliance could weaken both sides electorally. When the other participant asks whether the cooperation exists unofficially, Arshakyan says that it does.
Minval Politika says this indicates that Karapetyan’s public separation from Kocharyan may be a political tactic rather than a genuine divide. The official distance protects the public image. The alleged informal link protects the political project behind it.
The alleged conversation also touches on financial and personal links between the two figures.
Arshakyan claims that Karapetyan provided significant support to Armenia and to the former separatist regime in Garabagh over the years. He refers to large scale charitable spending and says a modern military medical centre in Khankendi was built with funds linked to Tashir Group.
He also claims that when Kocharyan was in detention, Karapetyan provided the two-million-dollar bail.

Karapetyan’s name has previously appeared in Azerbaijani legal materials linked to alleged illegal arms transfers.
In 2021, Azerbaijan’s Prosecutor General’s Office said it had opened a criminal case over alleged illegal shipments of weapons and military equipment to Armenia and then to the Garabagh region and adjacent territories, which were under Armenian occupation at the time.
According to Azerbaijani prosecutors, Karapetyan, Royalsys Engineering owner David Galustyan, KOMEX director Ara Abramyan and others were accused of organising the smuggling of weapons, ammunition, explosives and military equipment between 2001 and 2021.
The case was opened on 28 April 2021 under several articles of Azerbaijan’s Criminal Code. Karapetyan, Galustyan and Abramyan were charged in absentia, placed under arrest by court decision and declared internationally wanted.
The video published by Minval Politika also raises questions about possible election pressure scenarios.
In the alleged conversation, Arshakyan is asked whether Karapetyan has something prepared for the final stage of the campaign. He says there are several possible scenarios and refers to what he calls the “Moldovan path”.
Arshakyan describes this as a case in which a Russia backed political force was not allowed to participate in elections in Moldova. He then suggests that Karapetyan’s camp would have steps prepared even in such a situation.
Another part of the conversation concerns the Armenian Church.
Karapetyan has publicly presented himself as a supporter of the Church amid growing tensions between Prime Minister Nikol Pashinyan and senior clerical figures.
According to the alleged recording, Arshakyan says Karapetyan supports the Church and believes it should be separate from the state. When asked what Karapetyan would offer the Church if he came to power, Arshakyan says full autonomy from the state.
He also says the Church’s current goal is to prevent Pashinyan from remaining in power. When asked whether the Church influences people to vote for Karapetyan, Arshakyan answers more cautiously, saying its position is against Pashinyan.
The reported remarks come as Armenia moves towards elections that are widely seen as a test of the country’s political direction.
One path points towards accepting the post war regional reality and continuing negotiations with Azerbaijan. Another seeks to restore older political networks connected to revanchist narratives and the former Garabagh leadership.
Minval Politika says the footage challenges Karapetyan’s image as an independent political actor.
If the remarks are accurate, they suggest that Armenia’s opposition may be more connected behind the scenes than it appears in public.
Different names may appear on the ballot. But the political machinery behind them may be far more familiar.
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