Russia’s Federal Security Service (FSB) has accused a company linked to Armenian businessman and ruling Civil Contract party parliamentarian Khachatur Sukiasyan of involvement in the theft and smuggling of diamonds from Russia to Armenia.
The allegations, detailed in a statement released by the FSB on June 23, were denied by Sukiasyan’s spokesperson.
According to the FSB, Russian special services uncovered a systematic scheme of diamond theft from the Russian state-controlled mining giant Alrosa, involving both Russian and Armenian nationals. The agency said that the stolen diamonds were shipped to ADM Diamonds, a company allegedly owned by Sukiasyan and operating in Armenia.
“Stolen diamonds were shipped to Armenia’s ADM Diamond, whose beneficiary is Armenian lawmaker K. Sukiasyan,” the statement reads.
The criminal network reportedly included Alrosa employee Valentina Matyushenkova, her son, and dual Armenian-Russian citizens Armen Petrosyan and Arman Sahakyan. These individuals were arrested during an attempt to steal another batch of diamonds, estimated at 1.9 million rubles (approximately $24,000).
The FSB further stated that the operation was organized by the Bagikyan brothers, Armenian nationals who are now internationally wanted for smuggling raw diamonds.
Russia’s Investigative Committee has launched a criminal case into the theft and illegal trafficking of natural gemstones. Authorities say they have already seized 250,000 carats of industrial diamonds—a lower-grade product often used to conceal high-value gems in shipments.
Responding to the allegations, Khachatur Sukiasyan’s spokesperson Anna Mkrtchyan told RFE/RL’s Armenian service: “Khachatur Sukiasyan has never had any connection to or dealings with a company engaged in the diamond trade. The allegations made by the Russian security service are completely baseless.”
Artak Bagikyan, who manages the ADM Diamonds factory, also denied any ties between himself or the company and the arrested individuals in Russia. “Neither ADM Diamonds nor I have anything to do with the reports circulating in the Russian media,” Bagikyan told investigative outlet Hetq, adding that the factory has no connection to Sukiasyan.
This is not the first time ADM Diamonds has faced controversy. In 2021, a subsidiary of the company was implicated in a case of underreporting the value of diamonds imported from the United Arab Emirates to avoid customs duties, raising concerns over transparency and regulatory oversight in Armenia’s diamond sector.
In recent years, Armenia has emerged as a key transit hub for Russian precious metals and stones amid increasing international sanctions against Moscow. Billions of dollars’ worth of gold and diamonds have reportedly flowed through Armenia en route to the UAE and China.
