Trade between Russia and Armenia declines 'drastically' in 2026, continues to fall - Russian deputy PM

CHOLPON-ATA. Aug 6 (Interfax) - Trade between Russia and Armenia has fallen by approximately two thirds year-on-year since the beginning of 2026 and continues to decline, Russian Deputy Prime Minister Alexei Overchuk told journalists following a Kyrgyz-Russian economic forum in Cholpon-Ata.

"Trade between Russia and Armenia hit a record of around $12 billion in 2024, which is a huge number. Last year, it fell to around $8 billion-$7.99 billion, approximately. Trade is declining very dramatically this year - it has already decreased by around two thirds year-on-year. And the situation is such that, clearly, it will continue to decrease," Overchuk said.

He said that the decline in Armenia's contribution to trading within the Eurasian Economic Union (EAEU) was to be expected.

"In actual fact, the way in which relations between the EAEU and Armenia are now developing could have been predicted, and we have been saying to our colleagues in Armenia over the past three-four years that these risks exist, especially the risk of a decline in trade," Overchuk said.