Russian businesses are cautious about doing business with Armenia due to discussions about its possible EU accession – Overchuk
02.04.2026,
12:36
Russian businesses are cautious about doing business with Armenia due to talk of the republic's possible accession to the European Union, said Russian Deputy Prime Minister Alexey Overchuk.
YEREVAN, April 2. /ARKA/. Russian businesses are cautious about doing business with Armenia due to talk of the republic's possible accession to the European Union, said Russian Deputy Prime Minister Alexey Overchuk.
"I've told our Armenian colleagues many times that our businesses are very cautious about doing business with Armenia due to this talk of joining the European Union. And in reality, we've summed up the results of 2025, and we've fallen from $12 billion to $6.4 billion. In other words, just the talk of those people in Armenia who talk about the European Union has led to Armenia and Russia losing more than $5 billion in trade," he noted, according to TASS.
Overchuk also questioned how Russian entrepreneurs would react to the presence of Armenian businesses in Russia if, in his words, Russian businesses were forced out of Armenia. "I think neither Armenia nor Russia wants to know the answer to this question, although it is obvious," Overchuk said.
According to Armstat, Russia will remain Armenia's largest foreign trade partner in 2025. Trade turnover between the two countries amounted to $7.66 billion, a decrease of 38.3% compared to 2024. Exports from Armenia to Russia totaled $2.96 billion, a decrease of 6.9%, while imports fell to $4.87 billion, a decrease of 48.4%.
"I've told our Armenian colleagues many times that our businesses are very cautious about doing business with Armenia due to this talk of joining the European Union. And in reality, we've summed up the results of 2025, and we've fallen from $12 billion to $6.4 billion. In other words, just the talk of those people in Armenia who talk about the European Union has led to Armenia and Russia losing more than $5 billion in trade," he noted, according to TASS.
Overchuk also questioned how Russian entrepreneurs would react to the presence of Armenian businesses in Russia if, in his words, Russian businesses were forced out of Armenia. "I think neither Armenia nor Russia wants to know the answer to this question, although it is obvious," Overchuk said.
According to Armstat, Russia will remain Armenia's largest foreign trade partner in 2025. Trade turnover between the two countries amounted to $7.66 billion, a decrease of 38.3% compared to 2024. Exports from Armenia to Russia totaled $2.96 billion, a decrease of 6.9%, while imports fell to $4.87 billion, a decrease of 48.4%.
