Deputy PM: Russia-Armenia Economic Ties Face Major Slowdown

Russian Deputy Prime Minister Alexey Overchuk has said that trade turnover between Russia and Armenia decreased sharply and is projected to decline by half by the end of 2025.

Overchuk made these remarks at the Eastern Economic Forum (EEF), The Caspian Post reports via Russian media.

“It [trade] has decreased significantly. We expect that by the end of the year it will be about half of last year’s level. If it was $12.4 billion last year, this year it will be around $6 billion, perhaps slightly more,” Overchuk added.

Russia is Armenia’s largest trading partner and a major investor in key sectors such as energy, transportation, banking, and telecommunications. Bilateral trade historically includes Russian exports of machinery, fuel, and consumer goods, while Armenia exports agricultural products, minerals, and some manufactured goods to Russia.