ArmInfo. If the West imposes sanctions on the Russian Federation, the Armenian economy will suffer to a greater or lesser extent, depending on the nature of these sanctions. Chairman of the Central Bank of the Republic of Armenia Martin Galstyan expressed this opinion on February 1 during a press conference.
In particular, he noted that if the West limits itself to sanctions against individuals, it will be one story. In the event that the subjects of the financial sector fall under the sanctions, most likely, there will be a devaluation of the national currency of the Russian Federation. As a result of such an outcome, in his opinion, Armenia will, to a certain extent, lose some of its competitiveness in relation to the Russian economy. According to him, this is the least that can happen, much more significant risks coming from the financial sector, because our relations are also serviced through Russian banks. "Will the introduction of certain restrictions on these Russian banks and on Armenia, the imposition of mirror restrictions, or not? These are scenarios in which at the moment there is some uncertainty, in any case, we need to wait. But , I hope that we will go to de-escalation," he said.
Russia's removal from the S.W.I.F.T. system, according to M. Galstyan, will cause serious damage to the Armenian economy.
