Without compromise

Navigating Kyrgyzstan's mining sector and the story of the Kumtor mine

21 min · 14. apr. 2026
episode Navigating Kyrgyzstan's mining sector and the story of the Kumtor mine cover

Beskrivelse

In this episode, our business intelligence and investigations experts for Russia and the FSU region review the volatile landscape of the Kyrgyz mining sector. For decades, the Kumtor gold mine stood as the ultimate symbol of foreign investment in Central Asia. Today, following its dramatic nationalisation in 2022, it serves as a stark cautionary tale of "resource nationalism." We trace the meteoric rise of President Sadyr Japarov—from a prison cell to the presidency—and explore how his populist campaign turned a multi-billion dollar mine into a personal and political score to be settled.

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episode The planned nationalisation of Electric Networks of Armenia cover

The planned nationalisation of Electric Networks of Armenia

In our debut episode of 'Without compromise', we unpack one of the most significant developments shaping Armenia's political and investment landscape: the government's move to nationalise the country's electricity distribution monopoly, the Electric Networks of Armenia. This episode explores the deepening rift between Armenia's government and the influential Armenian Apostolic Church, the criminal proceedings against Karapetyan, the looming 2026 elections, and the geopolitical tug-of-war between Russia and the West. With insights from Dr. Ara Marjanyan, Armenia's national energy expert at the United Nations Development Programme, we examine whether this nationalisation signals a broader policy shift, or simply an isolated clash at the intersection of politics, energy security, and foreign investment.

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