Ex-Senator Sununu’s Financial Gains Tied to Azerbaijan Conflict
Former U.S. Senator John Sununu, who is campaigning for a Senate seat in New Hampshire, has seen his stock portfolio benefit from the conflict between Azerbaijan and Armenia, a war that resulted in ethnic cleansing and genocide.
Sununu, who left office in 2009 and subsequently worked as a corporate lobbyist and adviser, has substantial investments, with his net worth reportedly reaching up to $36.3 million. His financial disclosures reveal ownership of between $1 million and $5 million in Anglo Asian Mining (AAM) stock, a company involved in extracting gold, copper, and silver in Azerbaijan.
Sununu’s father, former New Hampshire Governor John H. Sununu, and his brother Michael, are both on AAM’s board of directors. In September 2024, John H. Sununu transferred over 900,000 AAM shares to Sununu Holdings LLC, the family’s investment firm.
The 2020 conflict saw Azerbaijan invade the Nagorno-Karabakh region, which, although geographically within Azerbaijan, was under the control of ethnic Armenians. Military actions included ground troops, artillery, drones, and missile strikes.
United Nations officials raised alarms regarding Azerbaijan’s “indiscriminate attacks” on civilians and infrastructure. Amnesty International reported probable war crimes by both parties involved. Columbia University’s Institute for the Study of Human Rights documented evidence of violent acts by Azerbaijani forces, including executions and torture.
In 2023, Azerbaijan initiated another offensive in Nagorno-Karabakh, resulting in over 100,000 ethnic Armenians fleeing. Human rights organizations and the International Criminal Court described these actions as ethnic cleansing, with some labeling them as genocide.
These events facilitated AAM’s expansion into Nagorno-Karabakh, significantly boosting its profitability. AAM’s stock value rose by 395% over three years due to this expansion.
The Armenian National Committee UK criticized AAM for “taking advantage of the war and exploiting an unstable region to maximize profits for its investors.”
A lawsuit claims that John H. Sununu encouraged a failed 2016 Azerbaijani raid on Nagorno-Karabakh to extend mining operations.
Earlier reports indicated Sununu’s investments in oil and gas surged due to conflicts in Venezuela and Iran, with Sununu advocating for continued U.S. involvement in Iran.
Sununu is set to compete against former Massachusetts Senator Scott Brown in the September 8 primary, with the winner likely facing Democratic Representative Chris Pappas in the general election.
—
Read More Kitchen Table News
