Armenian FM’s Property Purchase Sparks Controversy Over Hidden Finances

Armenia’s Foreign Minister Ararat Mirzoyan is facing scrutiny over a property purchase reportedly made using funds not accounted for in his official financial disclosures.

According to declarations filed in 2024, Mirzoyan reported ownership of two pieces of real estate: an apartment and a mansion. His wife is said to have acquired the mansion in 2022 for 112 million drams (approximately $280,000), located in the Nairi community of Armenia’s Kotayk Province, The Caspian Post reports via local media.

The minister’s financial disclosures also list nearly $30,000 held in bank accounts, along with 2.8 million drams (around $7,000) in cash. His total declared income for the previous year amounted to 24.7 million drams (roughly $62,000), with 22 million drams ($55,000) attributed to his salary and an additional 3 million drams ($8,000) received through a government income tax refund program tied to a mortgage on a 2018 property purchase.

Despite these declarations, local media note a financial gap. Even after factoring in proceeds from the sale of an apartment in 2021 for 34 million drams (about $85,000), a substantial portion of the funds used to purchase the 112 million dram property remains unexplained.

Mirzoyan has served as foreign minister since 2021, following a tenure as speaker of the Armenian National Assembly.