ArmInfo. When the discussion about Armenia's closer relations with the European Union intensified last year, Russian business began to be cautious about building trade ties with Armenia. This was stated by Russian Deputy Prime Minister Alexei Overchuk in an interview with TASS.
"I said then that this would not affect our bilateral trade," he noted.
In this vein, the Deputy Prime Minister drew attention to the fact that last year, bilateral trade with Armenia amounted to $12.4 billion, while this year it will only be possible to exceed the figure of $6 billion.
"That is, the cost of these conversations alone for Armenia's trade turnover amounted to $6 billion. If things continue like this, then a decision will have to be made: to re-evaluate our economic policy towards this country. It is Armenia's right to decide where it should be. But they also understand that then the tariff regime for them will be different, then we will not have free movement of goods between our countries and there will be no duty-free trade. This can hit the producers of goods in Armenia quite hard, especially agricultural producers, because the market features are such that their products are in demand in Russia," explained Overchuk.
He noted that if Armenia ever joins the EU, and the Russian Federation maintains the same relations with the EU as now, then questions will arise with the implementation of air transportation. Recalling that the EU skies are closed to Russian aircraft, the Deputy Prime Minister emphasized that this means that the skies of Armenia will also be closed to Russian aircraft, and the Russian skies to Armenian ones.
In addition, as the Deputy Head of the Russian Government noted, the country will also lose the benefits of the free trade zone with its closest neighbor Iran.
"There may be many consequences, they need to be understood and assessed. This is a very bad scenario, first of all for ordinary people, we do not want it and therefore we speak openly about it. Of course, Armenia will get something from the EU. Some new markets will open for it, some new routes will appear. They will have to weigh it all, look at the balance. In the end, the people of Armenia will decide. It is their choice," he noted.
According to the Statistical Committee of the Republic of Armenia, the foreign trade turnover of Armenia and Russia in January-July 2025 decreased by 65.1%, amounting to about $4 billion. At the same time, exports decreased by 5.6% to $1.6 billion, against the background of a decline in imports by 63.9% to $2.4 billion
