A criminal case has been opened against billionaire Gagik Tsarukyan, leader of the opposition Prosperous Armenia party. He is accused of large-scale tax evasion. He has been placed under a travel ban from Armenia.

Even today, before the court ruling, Tsarukyan attempted to fly abroad from Yerevan Airport, but law enforcement agencies prevented him from doing so.

As a reminder, according to the Central Electoral Commission, Gagik Tsarukyan's party failed to clear the 4% threshold for entering parliament in the June 7 elections. The party has officially requested a recount, hoping to change the results in its favor.

Gagik Tsarukyan and his party are in opposition to Prime Minister Nikol Pashinyan and his team. The prominent businessman, according to media reports, has extensive connections and support in Russia.

Earlier, Pashinyan announced the start of the nationalization process for the large enterprise Ararat Cement, which is owned by Tsarukyan.

"I congratulate all the plant's employees on their newfound freedom. From now on, you are no longer obligated to follow Tsarukyan's instructions, as your new employer is the Republic of Armenia," Nikol Pashinyan announced.

Last year, the authorities nationalized the Electric Networks of Armenia company, which previously belonged to Samvel Karapetyan, another billionaire and Russian citizen who is under house arrest, leader of the opposition party Strong Armenia.