Former Senator’s Financial Gains Tied to Azerbaijan Conflict
John Sununu, who previously served as a U.S. Senator and is now a candidate for the Senate from New Hampshire, has seen his stock investments benefit from Azerbaijan’s 2020 military actions against Armenia. This conflict has been marked by severe accusations, including ethnic cleansing and genocide.
Since his departure from office in 2009, Sununu has been active as a corporate lobbyist and adviser. His financial disclosures reveal substantial stock holdings, with a net worth reportedly reaching up to $36.3 million.
Among Sununu’s investments is Anglo Asian Mining (AAM), a mining company listed in London, where he holds shares valued between $1 million and $5 million. This company is involved in extracting precious metals such as gold, copper, and silver in Azerbaijan.
Notably, John H. Sununu, the former governor of New Hampshire and John Sununu’s father, is on AAM’s board of directors, along with Sununu’s brother, Michael. In a significant move, over 900,000 shares of AAM were transferred by the elder Sununu to the family investment firm, Sununu Holdings LLC, in September 2024.
In 2020, Azerbaijan launched a military assault on Nagorno-Karabakh, a disputed region geographically located within Azerbaijan’s borders but controlled by ethnic Armenians. The offensive utilized ground troops, artillery, drones, and missiles to gain control of the area.
United Nations officials raised alarms about what were described as “indiscriminate attacks” on civilian targets and infrastructure by Azerbaijani forces, with Amnesty International highlighting potential war crimes by both sides. A report from Columbia University’s Institute for the Study of Human Rights documented serious human rights violations, including executions and torture attributed to Azerbaijani forces.
In 2023, Azerbaijan initiated another offensive, leading to the displacement of over 100,000 ethnic Armenians. International organizations and the International Criminal Court have described these actions as ethnic cleansing, with some labeling it as genocide.
The expansion of AAM’s mining operations into Nagorno-Karabakh, facilitated by these conflicts, has significantly boosted the company’s profitability. AAM’s stock has surged by 395% over the past three years.
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 has accused John H. Sununu of promoting a failed Azerbaijani raid in 2016 with the goal of expanding mining operations in Nagorno-Karabakh.
Sununu has faced similar accusations before. Earlier reports indicated that his oil and gas assets benefited from conflicts involving Venezuela and Iran, with Sununu advocating for continued U.S. involvement in Iran.
As Sununu prepares for the September 8 primary, he will be up against former Massachusetts Senator Scott Brown, with the winner expected to challenge Democratic Representative Chris Pappas in the general election.
