Russia has the right to seek compensation from Armenia if Yerevan unilaterally revises its obligations under the South Caucasus Railway (SCR) agreement, Russian Minister of Economic Development Maxim Reshetnikov said, Report informs via Interfax-Russia
He stressed that the South Caucasus Railway is “not a free asset of a Russian company,” but an enterprise in which Russia has invested more than 30 billion rubles ($376.3 million). He therefore described as unfounded Armenia’s statements about the possible introduction of rent payments for the use of its railway network.
“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. If these obligations are unilaterally revised and our investor suffers losses, we will have grounds to seek compensation. Claims that Russia should pay Armenia additional money in such a situation are unfounded,” Reshetnikov said.
Earlier, Russian Railways CEO Oleg Belozerov said the company intends to adhere to the concession agreement. However, if the Armenian side considers terminating the contract or changing its terms, the Russian side would be entitled to expect reimbursement of its investments.
https://report.az/en/region/russia-may-seek-compensation-from-armenia-over-railway-investments
