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Armenia has close economic ties with Russia, but problems cannot be concealed - Minister

Arshaluis Mgdesyan
01.04.24 16:53

Ararat Mirzoyan, the Minister of Foreign Affairs of the Republic of Armenia, expressed his views on the current state of economic and political relations between Armenia and Russia in an interview with the Argentine television channel "Todo Noticias".

He emphasized that the two countries have close economic ties, including bilateral trade and cooperation in various fields. He also noted good relations in the security sphere. However, Mirzoyan acknowledged that there are problems that cannot be concealed.

He raised the issue that in 2020, Russia sent peacekeepers to Nagorno-Karabakh as security guarantors, but despite this, serious incidents occurred on the border with Armenia. Mirzoyan noted that the response from allies was unsatisfactory, leading Armenia to seek assistance from the European Union.

While Mirzoyan avoids using the term "turn", he emphasizes that the country seeks to ensure its security and development democratically, with the help of partners in the West.

BMG reported that Armenian-Russian relations are currently experiencing a crisis. Against the backdrop of growing tension in relations, Armenia informed Russia through official channels of the need to withdraw Russian border guards from the Zvartnots airport in Yerevan, which became another twist exacerbating bilateral contradictions.

Despite escalating tensions between Yerevan and Moscow, trade and economic ties between the countries continue to thrive. Since the military actions in Ukraine, Armenia's economy has received a significant boost due to the influx of Russians into the country along with their capital, as well as a sharp increase in bilateral trade.

Russia maintains its leadership in Armenia's foreign trade turnover, exceeding $7.3 billion in 2023. In January of the current year, trade turnover with Russia increased by 93%, amounting to $861 million in monetary terms.

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