In recent weeks, the court has delivered its final verdict concerning a group of Armenian nationals accused of separatism, war crimes, financing terrorism and crimes against humanity in Azerbaijan’s territories liberated from occupation in Qarabag (Karabakh from its Russian pronunciation).
According to the ruling, Arayik Harutyunyan, Arkadi Ghukasyan, Bako Sahakyan, Davit Ishkhanyan, David Babayan and Levon Mnatsakanyan have been sentenced to prison terms ranging from 19 to 20 years, with some receiving life imprisonment.
The verdict concerning Ruben Vardanyan, however, was postponed and was expected to be announced in the coming weeks.
But who is Ruben Vardanyan, and why was he detained and brought to Baku?
On 19 September 2023, following Azerbaijan’s anti-terror operations, separatist armed formations in Qarabag were dismantled. Prior to that, armed groups entrenched in certain parts of the region were reportedly financed not only by the individuals named above, but also by Ruben Vardanyan, who had arrived in Qarabag from Russia in an organised manner.
Azerbaijani sources state that surveillance footage obtained by the Azerbaijani army’s drones revealed weapons and ammunition being transported into Qarabag through illegal and concealed routes in military vehicles, operations allegedly linked to Vardanyan’s broader plans.
Ruben Karlenovich Vardanyan known with his full name, the Russian-Armenian oligarch did not arrive in Qarabag by chance. Amid the unfolding political process, he assumed the self-styled position of “state minister” of the so-called regime, entering Azerbaijani territory illegally, reportedly with the backing of Russian peacekeepers, according to some sources.
His financial background has long attracted scrutiny. Vardanyan amassed significant wealth through his involvement in the investment bank Troika Dialog, which was implicated in large-scale money-laundering schemes. Allegations have also circulated regarding links to arms supplies during the Russia-Ukraine war. The Forbes report said that his fortune stood at approximately $1 billion in 2021.
Yet the central question remains: why Qarabag?
Although numerous accounts of his past exist, the most credible assessments suggest that after years in business, Vardanyan was drawn into politics, a move that would ultimately prove decisive. His political inexperience became evident in 2023, when he sought to construct a quasi-state structure on the territory of another sovereign nation. That ambition, coupled with alleged attempts to finance separatism and terrorism, marked the beginning of the end.
There is no shortage of information regarding Vardanyan’s business dealings, including allegations of financial manipulation, corruption and illicit financing. One cannot help but wonder whether, had he not set foot in Qarabag, he might have continued operating in the shadows of global finance. Instead, he chose a path that thrust him into the heart of a geopolitical conflict.
In June 2021, Vardanyan renounced his Russian citizenship under unclear circumstances. He subsequently acquired Armenian citizenship and, from 2022 onwards, entered Qarabag, then partially under occupation, illegally. During this period, he declared himself “state minister” of the self-proclaimed “Artsakh Republic”.
Given the scale of his wealth, his decision to relinquish Russian citizenship and relocate first to Armenia and then to Qarabag was unlikely to have been coincidental. Some sources suggest he anticipated potential international legal scrutiny and sought to rebrand himself politically. By shifting from the world of finance into the political arena, he appeared to attempt a strategic repositioning.
For a time, Qarabag provided him with relative obscurity. However, as political dynamics accelerated, he was reportedly encouraged by certain figures to formalise his political ambitions and assume a leadership role.
Following Azerbaijan’s September 2023 operations, Vardanyan attempted to leave for Armenia via the Lachin border checkpoint but was detained by Azerbaijani border guards. He was transferred to Baku, where he faces charges including financing separatism and terrorism.
Today, the court is expected to deliver its final ruling in his case.
