Armenia will find no better gas terms anywhere, Russian Foreign Ministry says

The Russian Foreign Ministry said Armenia will not find more favorable gas terms than those offered by Russia. The Ministry noted that possible assistance from the EU would consist of loans.

Armenia will not find gas terms anywhere as favorable as those currently offered by Russia, Mikhail Kalugin, Director of the Fourth Department for CIS countries at the Russian Foreign Ministry said. 

In an interview with RIA Novosti, he noted that instead of Russian gas, Yerevan would have to purchase gas at market rates, which would lead to new holes in the budget.

”Obviously, Yerevan will not find anywhere terms as favourable as those currently offered by Russia. It will have to buy gas at market rates, which will lead to new holes in the budget,”

– Mikhail Kalugin said. 

According to him, any potential financial aid from Brussels would consist of loans.

"If they do manage to find anything, it will be loans that increase Armenia's debt burden, which, given the republic's current level of public debt, is already substantial, to put it mildly,”

– Mikhail Kalugin added 

In May of this year, the Russian Foreign Ministry notified Armenia that if the EU accession process continued, Russia would unilaterally suspend or cancel the cooperation agreement regarding the supply of gas, petroleum products, and uncut natural diamonds.