ArmInfo. The sanctions against Russia will have their impact - not necessarily negative - on the Armenian-Russian trade relations, Armenia's Minister of Economy Vahan Kerobyan said in an interview with the Shant TV channel.
The companies under sanctions can find alternative ways, including Armenia, to the international markets. "Along with numerous problems we have some opportunities," he said.
The current situation is arousing concern primarily in humanitarian terms - large Armenian communities with serious trade and business ties are in both the countries.
"We are trying to neutralize the threats and make use of available opportunities," the minister said. He finds it difficult to forecast further developments in the Russian-Ukrainian war, but points out a need to track the events not to miss the opportunities.
He highlights the establishment of peace.
"Results acceptable to both the parties need to be reached by mean of negotiations," Mr Kerobyan said.
In 2021, Russia's share in Armenia's mutual trade was 32.7% against 31.9% in 2020. Armenian-Russian trade reached $2.6bln last year (20.9% growth). Exports reached $847.2mln (24.5% growth) and imports $1.9bln (19.2% growth).
Armenian-Ukrainian trade totaled $168.8mln (12.4% growth). Exports totaled $25.6mln (2.9% decline), with imports totaling $143.2mln (15.7% growth). About 500,000 Armenians are living in Ukraine.
