EBRD SAYS DETENTION OF SARIBEK SUKIASIAN DAMAGES ARMENIA’S BUSINESS IMAGE

ARKA
Feb 17, 2010

YEREVAN, February 17, /ARKA/. Valeriu Razlog, head of the European
Bank for Reconstruction and Development (EBRD) Yerevan Offcie, said
Tuesday the bank was concerned over the detention of SIL Concern
holding company co-owner Saribek Sukiasian.

Saribek Sukiasian was detained along with one of his business partners
last Friday on suspicion of illegally possessing a gun and threatening
to kill a fellow businessman. He is the younger brother of Khachatur
Sukiasian, a former parliament member who surrendered to the police
in September and was set free three days later despite remaining
charged with organizing the March 2008 `mass riots’ in Yerevan.

‘We are glad that Saribek Sukiasian was released on Monday, but that
can not help improve Armenia’s business image,’ Valeriu Razlog said
during a news conference.

Saribek Sukiasian’s lawyers said he and Ayrarat market director
Artash Stepanian were released after the expiration of a 72-hour
period during which suspects can be kept in custody without a charge

being formally brought against them. But Sukiasian and Stepanian signed
a written pledge not to leave the city while police were investigating
the claim filed by a businessman who alleged to have been forced,
by Sukiasian and Stepanian, to sign some business-related documents
under `a real threat of murder’.

Franklin Steves, an EBRD consultant on political issues, said it is
important that any inquiry and punishment be unbiased, transparent
and accountable.

The Sukiasians family owns 53.4% in Armeconombank, EBRD owns 25%
plus one share.