5 Manat Khojavend

Khojavend — known to Armenians as Martuni — sits at the center of the Nagorno-Karabakh dispute, the Soviet-drawn enclave that became a flashpoint for the 1988–1994 war between Armenia and Azerbaijan. This coin was issued in 2021, the year Azerbaijan formally reasserted administrative control over the region following the 44-day war of autumn 2020, in which Azerbaijani forces retook significant territory including areas surrounding Khojavend. The commemorative series of which this piece is part functions explicitly as a sovereignty declaration in numismatic form.