Hit-and-run or premeditated murder. The death of Suren Balayan raised serious questions

05.18.2022 The tragic incident that occurred on May 6, 2022, which resulted in the death of businessman and founder of Vanakwa Group LLC Suren Balayan, still arouses a lot of suspicion. According to the official version, this was a traffic accident, but the family is sure that in fact it was a deliberate murder, directly related to the Jermuk brand and the long-term business conflict in the mineral water market. The Balayan family has been producing mineral water for many years. Vanakwa Group LLC is the first company engaged in bottling mineral water, and one of the leading export volumes in the region. However, for several years now there has been fierce competition between “Vanakwa” and “Jermuk Group”, which is more reminiscent of a “fight without rules”. According to the Balayans, the pressure on them has increased, and attempts are being made to force them out of the market. Satenik Balayan, who is actually the owner of the Vanakva company, claims that the key role in these processes was played by the owner of the Jermuk Group, Ashot Arsenyan, who is considered one of the largest and most influential entrepreneurs in Armenia and is known for his close ties with political power and administrative circles. According to Satenik, Arsenyan has been engaged in “unhealthy competition” for a long time, trying to gain a monopoly in the industry and force competitors out of the market. The family claims that various methods have been taken to put pressure on their business over the years. These included administrative pressure, legal processes and economic obstacles. During the same period, other entrepreneurs in the industry faced similar problems. According to tax authorities, over the past 3 years, more than a dozen small and medium-sized manufacturers have ceased their activities, and according to information circulating in the press, they have become the property of Ashot Arsenyan. According to Satenik Balayan, her father received a number of threats before his death. They demanded that he give up the business and stop fighting for the right to the Jermuk brand. Despite this, he continued his legal fight and was preparing to appeal to higher courts. It should be noted that Ashot Arsenyan has long enjoyed the patronage of the authorities and, both during the reign of Serzh Sargsyan and Nikol Pashinyan, was able to build “friendly” relations with the authorities, enjoy unlimited patronage and state and tax benefits, gaining a competitive advantage. The death of Suren Balayan on May 7, 2022 really gives reason for reflection, since this incident gave Ashot Arsenyan a new competitive advantage. A criminal case was opened immediately after the incident, but continues to be investigated as an accident.