Commenting on the announcement by Heritage Party founder Raffi Hovannisian that he wishes to give up his seat in parliament, Roubik Hakobyan, the party’s parliamentary faction leader, told reporters that the movre can be seen in the context of the upcoming presidential election.

Hakobyan told reporters that while the party hadn’t yet reached a decision on the issue, it did back the idea of supporting a Hovannisyan run for the presidency.

There had been growing speculation that Hovannisian would give up his seat in parliament in order to clear the way for a presidential bid.