(MENAFN) A Yerevan court has prolonged the arrest of Russian-Armenian billionaire and critic of Prime Minister Nikol Pashinyan, Samvel Karapetyan, by two months, despite a recent ruling declaring his detention unlawful. Karapetyan’s lawyer, Liana Gasparyan, called the decision “illogical” and vowed to appeal to the Criminal Court of Appeals, insisting that justice is absent in Armenia.

Karapetyan, head of Moscow-based Tashir Group, was detained in June over allegations of inciting a power grab tied to his support for the Armenian Apostolic Church, which protested Pashinyan’s transfer of border villages to Azerbaijan. Authorities also began moves to nationalize his energy company, Electric Grids of Armenia.

Forbes estimates Karapetyan’s net worth at $3.2 billion. In July, the Stockholm Chamber of Commerce ruled against the Armenian government’s attempt to seize his company. His family has filed a $500 million claim in response to the nationalization.

Moscow has expressed hope that Armenia remains stable and friendly toward Russia while treating Karapetyan’s detention as an internal matter. Meanwhile, Karapetyan’s “In Our Way” political movement is set to officially launch at the end of August, marking a new phase in Armenian politics.

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