Armenia not able to endure possible Russian sanctions - ex-minister
YEREVAN, November 10. /ARKA/. Armenia is not able to endure possible Russian sanctions, ex-finance minister Vardan Aramyan said in the Special Opinion program on the YouTube channel of Novosti-Armenia news agency.
According to the ex-minister, the lion's share of 12.6% growth posted by Armenia in 2022 was contributed by Russia.
"It's one thing if Russia raises the natural gas price from the current $165 to $180 (per one 1000 cubic meters), and another thing if it raises the price to $300 or $400. It is one thing if Russia uses phytosanitary tools to hold trucks with Armenian brandy for 15 days on the border and it is another thing if it applies a total embargo on Armenian alcoholic drinks, as was done with Georgian wines. It is one thing when it does not allow citizens with Armenian passports to integrate into its labor market, and another thing when it conducts verification visits to certain companies to track down unregistered migrant workers, knowing that this company hires Armenian labor migrants," he said.
At the same time, Aramyan said unlike Russian high-ranking officials who make rather aggressive anti-Armenian statements, the Armenian side argues that there are no problems between the countries.
"These are mutually exclusive statements and I don't know what they discuss together behind closed doors. Everything depends on the mood of both sides," he explained.
‘In any case it would be correct if the Armenian government answer the question of what would happen if Russia decides to double natural gas price, or whether it negotiated with Iran imports of gas to Armenia at $165,’ Aramyan said.
Aramyan also said that today Armenia's integration in the Russian market is quite high. For example, of the $980 million FDI in 2022, $585 million were reinvested profit, mostly from companies with Russian capital.
Aramyan also recalled that the bulk of individual remittances sent to Armenia come from Russia. and 50-60% of re-exports, which increased significantly in 2022 and 2023, go to Russia.
"These indicators show that our economic dependence on Russia is quite high, so when we talk about certain policy directions, the government has to say 'what if''. If they have promises from the Euro-Atlantic alliance that these amounts will be compensated through additional grants - for God's sake.. But it should be demonstrated," Aramyan summarized. -0-
