The Russian Federation has begun to reduce economic cooperation with Armenia

Russian business has started to reduce its activity in Armenia because of its plans to join the European Union. The Russian government considers this step as the beginning of Armenia’s withdrawal from the Eurasian Economic Union, said Russian Deputy Prime Minister Alexey Overchuk.

Russian business began to reduce transactions with Armenia in 2024 due to its intentions to join the EU. Overchuk added that this process has a negative impact on economic relations between countries.

“Discussions about Armenia’s accession to the EU have already led to a reduction in business activity in some areas,” he said.

The Russian Deputy Prime Minister also reiterated that the Armenian government’s decision to start the process of joining the European Union is a legally significant step, which Moscow considers as the beginning of Yerevan’s exit from the EAEU.

He is convinced that Armenia is not interested in losing the economic benefits of membership in the EAEU. The Russian official cited data that the trade turnover between Russia and Armenia during the 11 months of 2024 reached $11.6 billion, while trade with the EU, Overchuk believes, is “significantly low and decreasing.”

Let’s recall that on January 14, US Secretary of State Antony Blinken and Armenia’s Foreign Minister Ararat Mirzoyan signed a charter on strategic cooperation between Washington and Yerevan.

Earlier it became known that Armenia cooperates with the United States in all areas in the field of defense, particularly military and military-technical. This is what the Chief of the General Staff of the Armed Forces of Armenia Edward Asryan said.