Armenia’s biggest mine says it cut ties with Russian oligarch: THIS WEEK IN BUSINESS

  • Armenia’s largest mine said it cut ties with Russian oligarch Roman Trotsenko just days before the United States imposed sanctions on his holding company. However, the Zangezur Combine’s biggest shareholder is now listed as a Russian citizen with known business links to Trotsenko.
  • Armenia’s gross domestic product grew by 9.2% in the first three quarters of the year, well above the government’s 7% economic growth target.
  • The Armenian government ordered Gagik Tsarukyan, one of the country’s richest oligarchs, to explain how he acquired hundreds of millions of dollars’ worth of assets as part of an ongoing corruption probe.

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