Russia may seek compensation from Armenia if Yerevan changes the terms of the South Caucasus Railway (SCR) agreement without mutual consent, Russian Economic Development Minister Maxim Reshetnikov said.
Russia has the right to seek compensation from Armenia if Yerevan revises its obligations under the South Caucasus Railway agreement without mutual consent, Maxim Reshetnikov said.
He said the railway operator is not a free asset of a Russian company but an enterprise developed through Russian investment and contractual commitments.
“The South Caucasus Railway is not a free asset of a Russian company, but an enterprise in which we have already invested more than 30 billion rubles, purchased new rolling stock and developed infrastructure under contractual obligations.”
Reshetnikov dismissed Armenia’s possible introduction of rental payments for the use of its railway network, calling such demands unfounded.
“Raising the issue that Russia should pay additional payments to Armenia is unfounded,” Reshetnikov said.
He added that if the agreement is changed unilaterally and the investor suffers losses, Russia would have grounds to seek compensation.
Earlier, the chief executive of Russian Railways (RZD) Oleg Belozerov said the company intends to continue operating under the existing concession agreement.
“We intend to adhere strictly to the agreement, and if the Armenian side is considering terminating the contract or changing its terms, we are entitled to expect reimbursement of the investments we have made,” Belozerov said.
The remarks followed Armenian Prime Minister Nikol Pashinyan’s comments about seeking alternatives in relations with Moscow.
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