Armenia casts doubt on EAEU future over Russia's import restrictions

A senior lawmaker from Armenia's ruling Civil Contract party has questioned the value of the country's continued membership in the Eurasian Economic Union (EAEU), arguing that the bloc loses its purpose if Armenian exports continue to face restrictions in the Russian market.

Babken Tunyan, deputy chairman of the Armenian parliament's Standing Committee on Economic Affairs, said the principal advantage of joining the EAEU had been access to a vast common market.

"The main benefit of EAEU membership was access to a large market. Until 2013, Armenia had no plans to join the EAEU, but the decision was later made to join, and the main argument was that it would open up a huge market for us," Tunyan said in an interview with Armenia's Public Television.

He argued that if Armenian producers are effectively denied access to that market while EAEU regulations on certain categories of goods continue to restrict their ability to diversify exports, the rationale for remaining in the bloc comes into question.

"If we are indeed dealing with deliberate political sanctions, this means that Armenia's membership in the EAEU is already losing any meaning. This question is not rhetorical," Tunyan said.

The lawmaker acknowledged that some trade restrictions could stem from technical issues, but questioned why Armenian products are able to meet the standards of European markets while facing barriers within the EAEU.

"It remains unclear why, for example, the European market, which has stricter requirements, accepts certain Armenian products, while the EAEU market does not," he said.

Earlier, Armen Ktoyan, a member of the Board of the Central Bank of Armenia, estimated that Russia's restrictions on imports of certain Armenian goods could have a maximum economic impact equivalent to around 2% of Armenia's gross domestic product.

By Vafa Guliyeva