Trade between Russia and Armenia has declined by approximately two thirds year-on-year since the beginning of 2026 and continues to decline, Russian Deputy Prime Minister Alexei Overchuk said.
He recalled that trade between Russia and Armenia hit a record of around $12 billion in 2024, which is a huge number, but 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.
According to him, 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.
