Russia warns Armenia of economic risks linked to EU integration

Russian Deputy Prime Minister Alexei Overchuk has warned that Armenia could face economic and energy challenges if it moves closer to European Union standards and eventually seeks EU membership.

Overchuk said the benefits Armenia currently receives within the Eurasian Economic Union (EAEU) were granted as part of a broader package arrangement and could be affected if Yerevan shifts its regulatory framework toward the EU, Caliber.Az reports per Russian media. 

“If Armenia begins to change its technical regulations, this will pose certain threats to us,” Overchuk said, referring to the adoption of European standards.

He added that while Moscow does not want Armenia to leave the Russia-led EAEU, the country’s current political direction could lead to a decline in living standards, industrial output and economic performance, as well as higher energy prices.

According to Overchuk, Russia and Armenia have for some time been privately discussing the possible revision of gas and oil product supply terms should Armenia pursue closer integration with the European Union.

“We have been holding these discussions for a long time, very frankly. The Armenian leadership knows all this and understands it perfectly well,” he said.

By Sabina Mammadli