ArmInfo. During a press conference held on June 16, 2026, the Chairman of the Central Bank of Armenia (CBA), Martin Galstyan, stated that a hike in natural gas prices is considered highly unlikely.
Galstyan noted that while there has been significant public commentary regarding the possibility of a price increase, the likelihood of such a scenario is "extremely low." He emphasized that the current pricing is governed by an existing international agreement.
"In other words, these are X-type scenarios that could occur, but their probability is extremely low, according to our estimates. If they do occur, it will naturally increase inflation, impact production, and bring with it secondary effects," the Central Bank Chairman clarified. If the situation develops according to this scenario, the Central Bank, as Galstyan noted, will act post-factum; the Regulator lacks any preventative tools.
Recall, relations between Moscow and Yerevan have deteriorated amid Armenia's integration policy toward the EU. Last week, Foreign Ministry spokesperson Maria Zakharova reported that Moscow had warned Yerevan of the risk of terminating agreements on gas, oil products, and diamonds if Armenia joins the EU. Russian Energy Minister Sergei Tsivilev later stated that Moscow had not received a response from Yerevan. State Duma Chairman Vyacheslav Volodin recalled that Armenia receives Russian gas at a preferential price of $177.5 per 1,000 cubic meters, while the price in Europe is $633.
An agreement on duty-free supplies of Russian gas, oil products, and rough diamonds to Armenia was signed in 2013 and ratified in 2014. It applies only to domestic consumption volumes and prohibits re- export.
