On August 12, Narek Karapetyan, head of the opposition faction “Strong Armenia,” warned that Armenia could lose up to 65% of its trade turnover due to severing economic relations with Russia.
Karapetyan stated at a parliamentary briefing that Armenian political thought must find solutions to break the ongoing economic impasse, as the country is moving toward ending economic ties with a nation accounting for 65% of its trade. He noted that this situation occurs amid the absence of normal economic relations or exports with the European Union: Armenian exports to France have fallen by 10–15% over the past eight years.
The head of the faction added that the economic situation is expected to deteriorate further in the next six months. When asked about earlier remarks by Samvel Karapetyan, leader of the Strong Armenia party, regarding potential contacts with Moscow to alleviate trade restrictions, Karapetyan clarified that any interaction would occur within the framework of a parliamentary dialogue.
Separately, 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 the previous year, reaching $12 billion. He described this year’s trade decline as “very dramatic” and warned it will continue.
Earlier, Dmitry Medvedev, Deputy Chairman of the Russian Security Council and chairman of the United Russia party, stated on June 28 that the severance of economic ties between Russia and Armenia could have serious consequences for Yerevan, particularly affecting ordinary citizens.
