Armenian Deputy PM Mher Grigoryan declared revenues of 1.7 billion drams (US$4.2M) for 2022. $2.4 million derived from the sale of shares in private companies.

The companies in question include Arins Group LLC (which owns shares in Ardshinbank, Armenia Insurance, Capital VP and Premium Plaza), and Regional Financial Industrial Corp.

Of note is that Grigoryan served as Chairman and CEO of Ardshinbank (2011-2018) and the shares in Arins Group were acquired before he was appointed deputy prime minister in May 2018, after the “Velvet Revolution” in Armenia.

Grigoryan’s annual salary as deputy prime minister is 23 million drams ($57,000).