June 08, 2026
Armenia’s parliamentary elections ended as expected: Nikol Pashinyan’s party won with roughly 57% of the vote. The prime minister addressed the nation, spoke about continuity and economic development — and, of course, said nothing about a copper mine. No one expected him to.
But the political calendar matters. In Armenia, state‑level asset resolutions tend to align with major political milestones. The election result removes the last formal excuse for delay. Closing the Teghut file — cleaning up the liabilities, settling the VTB debt, and moving a Soviet‑era asset out of Russia’s sanctioned orbit — fits perfectly into his government’s declared pivot toward Europe. (For background, see our earlier deep dive: The Rise, Collapse and Bizarre Afterlife of Armenia’s Teghut Copper Mine.)
Now that the vote is done, it’s time for Andrei Kostin, VTB’s chief, to pick up the phone and call Konstantin Sokolov: “This is Moscow speaking — time to close the ledger, Konstantin.”
Whether the deal closes tomorrow or in six weeks, the election result clears the way. Watch for movement behind the scenes, not press releases.