The Arrest of Tsarukyan and New Charges
The relationship between Prime Minister Nikol Pashinyan and prominent businessman Gagik Tsarukyan has long transcended the boundaries of ordinary political debate, turning into a struggle for personal and political survival.
On July 6, 2026, businessman and leader of the Prosperous Armenia Party, Gagik Tsarukyan, was arrested. The arrest was preceded by hours of searches at Tsarukyan's residence and over 70 related addresses.
The next day, on July 7, the Yerevan Court of General Jurisdiction decided to detain Tsarukyan for two months. Gagik Tsarukyan is accused of large-scale fraud and money laundering.
According to the Investigative Committee, Gagik Tsarukyan and several Iranian businessmen jointly established companies as legal entities. They then imported 52 units of vehicles, equipment, fuel, and various goods from Iran to Armenia.
"By disguising the imports under formal manifestations of economic activity, they falsified customs declarations and other official documents, deliberately stealing property worth a total of approximately 21 million 72 thousand 827 US dollars, equivalent to about 8 billion 126 million 946 thousand 460 Armenian drams," the Investigative Committee's statement said.
The Prosecutor General's Office considers the legality of the acquisition of several properties belonging to Gagik Tsarukyan questionable. Since 2023, the property of Tsarukyan and his family members, including his wife, parents, sons, and daughter-in-law, has been under investigation by the Prosecutor General's Office for the confiscation of illegally obtained property.
The New Trial of Christ
At the same time, the fate of Gagik Tsarukyan's most ambitious project—the construction of a statue of Jesus Christ on the summit of Mount Hatis—remains uncertain. The 33-meter-high (about 77 meters with the pedestal) monumental statue project has also attracted the attention of leading international media.
This project has been a source of conflict from the very beginning. The Armenian Apostolic Church was categorically opposed to the installation of the statue of the Savior, claiming that it does not conform to the church's centuries-old traditions. Environmentalists and archaeologists also warned about the destruction of historical and cultural layers and the bronze-era fortress of Hatis.
Despite the church and public resistance, Nikol Pashinyan's government greenlit the project, stating that it would contribute to the development of tourism.
Today, as Tsarukyan is once again detained and the activities of his enterprises are suspended, the unfinished construction on the summit of Hatis takes on an entirely different meaning.
The fate of the statue of Christ is as murky as that of the leader of the Prosperous Armenia Party.
The Prosperous Armenia Party
The Prosperous Armenia Party was founded in 2004 during the presidency of Robert Kocharyan. Its founder is Gagik Tsarukyan. Since its inception, the party has participated in all parliamentary elections.
The Prosperous Armenia Party was the second most voted force in the National Assembly elections of 2007, 2012, 2017, and 2018.
In the snap parliamentary elections of 2021, the Prosperous Armenia Party received 3.9% and for the first time in its history failed to overcome the electoral threshold.
The initiation of criminal proceedings against the leader of the Prosperous Armenia Party is considered by his supporters to be political persecution.
Thus, the conflict between Pashinyan and Tsarukyan seems to have reached its peak.
