Yerevan develops scenarios to safeguard trade with Russia, minister says

Armenia has developed contingency scenarios in case of potential disruptions to imports from Russia, although officials in Yerevan do not expect any adverse developments.

The remarks were made by Armenian Economy Minister Gevorg Papoyan, Caliber.Az reports, citing Armenian media.

“The scenarios you are referring to were developed several years ago, but we are confident that this will not happen. Overall, the political changes we have implemented in recent years, including border openings, have had a positive impact. For example, global fuel prices have increased two to three times, whereas in Armenia the increase has been only a few percent. Why? Because we were able to import cheaper fuel from other markets,” Papoyan said.

He added that the government should pursue similar diversification in wheat and other essential goods to ensure Armenia does not depend on a single supplier and retains greater flexibility in its trade policy.

The minister also stressed that Armenia currently maintains sufficient wheat reserves and stable supply channels, enabling it to meet domestic demand. He noted that mechanisms already exist within the Eurasian Economic Union (EAEU) to address potential trade restrictions.

“The EAEU has very good provisions, which we have used so far and will continue to use. By the way, the mechanisms and standards of the EAEU are quite good — they are taken from EU standards, meaning they are essentially identical,” Papoyan said.

Commenting on relations with Russia, Papoyan described them as partnership-based, stating that media reports about tensions do not reflect the actual situation.

“The last day of this tension will be election day — June 7. The Russian side has also said it will work with us [after the elections],” the minister said.

By Vafa Guliyeva