Armenian Central Bank expects slump in Armenian-Russian trade over Ukraine events

YEREVAN. May 16 (Interfax) - Armenian-Russian trade will shrink because of the Russian-Ukrainian events, Armenian Central Bank Deputy Governor Hovhannes Khachatryan said.

"The volume of [Armenia's] trade with Russia is $2.5 billion, of which exports account for $800 million and imports for $1.7 billion. The events developing dynamically over the past few months show that the volume of trade between Armenia and Russia will shrink," Khachatryan said at a meeting of the parliamentary financial and budget committee on Monday.

More precise estimates of changes expected in Armenia's trade balance will be ready soon, he said.

The volume of Armenian-Ukrainian trade is $160 million, with imports accounting for $120 million, which have also dropped nearly to zero now, Khachatryan said.