The United States will acquire a 74 percent stake in a strategic transport corridor through Armenian territory that connects Azerbaijan with its Nakhchivan exclave, according to a framework announced by Washington on Tuesday.
The agreement was detailed by US Secretary of State Marco Rubio during a meeting with Armenian Foreign Minister Ararat Mirzoyan. The deal follows a decisive military offensive by Azerbaijan in 2023, which resulted in Baku retaking control of the Nagorno-Karabakh region.
Under the terms, a new entity named the “TRIPP Development Company” will be established to develop rail and road infrastructure along the route, which has been designated the “Trump Route for International Peace and Prosperity” (TRIPP). Armenia will retain the remaining 26 percent share in the company.
A document released by the State Department specifies that the project is expected to provide a “financial return to the US for its initial contribution or other economic benefits to the US government or for US companies.” The framework also notes the project will open new markets for American investment and facilitate the transport of “raw materials, critical minerals and rare earth metals to American markets.”
During the meeting, Rubio stated, “The TRIPP arrangement really is going to turn out to be a model for the world of how you can open yourself up to economic activity and prosperity without in any way questioning or undermining your sovereignty and your territorial integrity.”
Despite the majority US ownership, the framework asserts that Armenia’s sovereignty over the corridor will be “absolute and non-negotiable.” This includes Armenia’s right to enforce its domestic laws and maintain law enforcement control within the corridor’s area.
The project is also viewed by some US policymakers as a way to reduce Russia’s longstanding influence in the region. The deal has raised concerns in neighboring Iran, which shares a border with Nakhchivan and has maintained positive relations with Armenia. Armenian Prime Minister Nikol Pashinyan previously assured Tehran that any corridor would remain under full Armenian sovereignty.
