Vardan Toghanyan
Vardan Toghanyan is the sole shareholder and beneficial owner of Tospa Radio Company Editorial Office CJSC, according to the company's charter and the declaration of beneficial owners. He became the beneficial owner in 2017.
From 2017 to 2022, Toghanyan served as Ambassador of Armenia to Russia. Article 44 of the Law On Diplomatic Service prohibits diplomats from engaging in entrepreneurial activities. Since the company's charter states that its purpose is to make a profit through economic activity, Toghanyan transferred Tospa Radio Company Editorial Office CJSC to trust management. According to his 2021 annual declaration, the trust manager is Meruzhan Badalyan.
Toghanyan's career has been closely connected to Russia. He worked as a history teacher in Yerevan (1991-1992) before entering diplomatic service as Chief Specialist of the Permanent Representation of Armenia in Moscow (1992-1994), Second Secretary of the Embassy of Armenia in Moscow (1994-1995), First Secretary in the Commonwealth of Independent States (CIS) Department of the Ministry of Foreign Affairs (1996-1997), First Secretary of the Embassy of Armenia in the Russian Federation (1997-1998), and Counselor of the Embassy of Armenia in the Russian Federation (1998-2000).
Beyond his diplomatic career, Toghanyan has held numerous positions in Russian business enterprises. Since 2001, he has served as Chairman of the Board of Directors of Eurasian Media Group CJSC. From 2012, he became Chairman of the Board of Directors of Russian Sverdlovsk Film Studio OJSC and served as a member of the Board of Directors of Borisoglebsk Starch Plant OJSC. From 2013 to 2015, he was a member of the Board of Directors of Kinotechnika and Soyuzkniga OJSCs, and from 2013 to 2016, he served on the Board of Directors of Central Research Institute of Paper OJSC. Since 2016, he has been a member of the Board of Directors of Russian Newspapers CJSC.
In 2017, Toghanyan was appointed Ambassador of Armenia to Russia. By decree of the President of the Russian Federation in 2021, he was awarded the Order of Friendship for his contribution to strengthening Armenian-Russian allied relations. In 2022, Russian Foreign Minister Sergey Lavrov presented Toghanyan with the Order of Friendship.
Toghanyan was one of the founders of the Armenian Future Charitable Foundation, established in 2018. According to the 2025 declaration of beneficial owners, he holds a 50% stake in the foundation. He was also one of the founders of Sirun Diamonds LLC, operating in Armenia. The company was subsequently renamed New Development LLC, then Gold and Diamond LLC. Founded in 2015, Toghanyan held a 33.3% stake in the company until May 2025.
In 2016, the investigative journalism website Hetq.am published a list of offshore companies with Armenian citizens, obtained as part of the Panama Papers project. Vardan Toghanyan's name appeared on the list.
