ArmInfo.The "Export Armenia" initiative, uniting hundreds of Armenian producers and exporters, expressed deep concern about the exclusion of Armenian alcoholic products from the Russian market.
The report from Export Armenia states that many manufacturers, exporters, and logistics companies are extremely concerned about the future of their existence. "The only export road "Silk Road" creeps in front of us. Since March, some producers have fallen under the unspoken sanctions of the Federal Alcohol Regulatory Agency, and since September 1, all major producers of Armenian cognac have been included in this list. Since September 25, not a single vehicle heading towards Russia and, moreover, transit cargo to the EAC countries has passed through the Verkhniy Lars TP without inspection and selection of samples for quality compliance examination. This situation is hitting us all. We are losing the market, getting fined, and all this in the midst of the season for harvesting grapes and exporting finished products," says the Initiative.
It should be noted that in response to a request from ArmInfo, the Ministry of Economy of Armenia noted that they have not yet communicated the situation. However, according to experts, it is possible that soon the Armenian economy, 60% of which is in one way or another tied to the Russian market, will be effectively blocked. "Sanction" measures to block money transfers from Russia to Armenia cannot be ruled out.
The country's foreign exchange market is already reacting to the situation. Today, after the ratification of the Rome Statute by the Armenian parliament, which the Russian Federation openly opposed and calls it an openly unfriendly step, the dollar exchange rate in the country immediately jumped by 15-20 drams. If on Saturday the dollar exchange rate on the retail foreign exchange market averaged 405 drams, then in the afternoon of Tuesday it increased to 432.5 drams. Over the past month, the dollar has increased by 12% and the euro by 7%.
