Russian Deputy Prime Minister Alexei Overchuk reiterated that the accession process will mark the beginning of Armenia’s withdrawal from the Eurasian Economic (EEU), a Russian-led trade bloc that gives the South Caucasus nation tariff-free access to Russia’s vast market.
“The outcome here is obvious: opening markets with the European Union will mean closing markets with the Eurasian Economic Union,” Russian news agencies quoted him as telling journalists.
“They [the Armenian side] know full well that the consequences will be like this. No one should have any illusions about this. People who claim in discussions going on in Armenia that some solution can be found mislead, to put it mildly, the Armenian people,” added Overchuk.
Overchuk first issued such warnings on January 9 hours after Prime Minister Nikol Pashinian’s government endorsed a bill calling for the “start of a process of Armenia's accession to the European Union.” Armenian officials responded by saying that Yerevan has no plans yet to leave the EEU.
Pashinian telephoned Russian President Vladimir Putin on January 17 to discuss the matter. He made clear afterwards that his administration is pressing ahead with the EU membership bid. The Armenian parliament controlled by Pashinian’s Civil Contract party is scheduled to debate the bill in question next month.
According to Armenian government data, Russia accounted for over 41 percent of Armenia’s foreign trade in January-November 2024, compared with the EU’s 7.5 percent share. Armenia also buys the bulk of its natural gas from Russia at a price that is set well below international market-based levels.
“Trade [with Russia] last year was $12 billion, which is several times more than the volume of trade that Armenia has with the EU,” stressed Overchuk. “At the same time, trade with the EEU countries is growing while with the EU it is decreasing, which characterizes the real state of affairs in the economy better than other words.”
