Armenian Prime Minister Nikol Pashinyan said the authorities plan to abandon settlement agreements in cases involving the confiscation of illegally obtained property and seek the full return of such assets to the state.
Under the current rules, when a settlement is reached in such cases, the state receives at least 75% of the property’s value, while up to 25% may remain with the defendant.
Speaking at a briefing on Friday, Pashinyan said he had instructed officials to scrap that provision. He said the rule allowing 25% to remain within the system for confiscating illegally acquired property should no longer apply.
The prime minister said the state had given enough time for those concerned to use that option. “We gave this chance, for 8 years they did not use it, now it must be reset to zero. They must return the full 100%,” Pashinyan said.
According to him, the planned legislative amendments should fully eliminate the possibility of concluding such settlement agreements.
