Envoy: Russia-Armenia trade hits historic $12 billion turnover in 2024

The trade turnover between Russia and Armenia has reached a historic $12 billion by the end of 2024, said Russian Ambassador to Armenia Sergey Kopyrkin.

Kopyrkin added that the figures achieved so far are just the beginning, with the full potential of Eurasian integration still being unlocked, Caliber.Az reports via Russian media.

The diplomat emphasized that the increasing involvement of more partner states in the common trade system promises even greater economic collaboration in the future.

In December 2024, Russian Deputy Prime Minister Alexei Overchuk said Russia had become one of the main investors in the Armenian economy, with accumulated investments reaching $3.4 billion by late 2024. Over 40 large Russian companies operate in Armenia, some of which are among the largest taxpayers. He also said that Russia and Armenia have almost completely switched to settlements in national currencies, and the share of the Russian ruble in mutual settlements has reached 96.3%.

By Khagan Isayev