News - Armenian businesses are worried about Russia's trade restrictions.

The Speaker of Armenia's National Assembly, Ruben Rubinyan, has stressed that the unjust and unfounded restrictions imposed on Armenian businesses do not align with the Armenian-Russian relationship spirit or the principles of the Eurasian Economic Union (EAEU). Armenia is not taking any steps to worsen relations with Russia; on the contrary, it is striving to maintain normal and friendly ties. Rubinyan highlighted concerns over recent restrictions placed on Armenian products, noting these do not correspond with EAEU's commitment to free trade and unhindered movement of goods among member states. Since late May, Russia has gradually imposed restrictions on the importation of certain Armenian goods, citing phytosanitary violations. This affects flowers, mineral water, certain beverages, alcoholic products, vegetables, fruits, berries, grapes, potatoes, dried fruits, and more recently, live fish and fish products, with dairy products added to the list on July 27. These restrictions also include bans on the transit of Armenian-origin products through Russian territory to other EAEU countries. Vazgen Poghosyan, head of the monetary policy department of Armenia's Central Bank, warns that these Russian measures could impact Armenia's GDP by 1-1.5%. Overall, Armenia seeks to address these disputes diplomatically, underscoring its dedication to nurturing robust Armenian-Russian relations.