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Time in Yerevan: 11:07,   29 March 2024

U.S. State Department reflects on Armenian dram's depreciation

U.S. State Department reflects on Armenian dram's depreciation

YEREVAN, DECEMBER 18, ARMENPRESS. The economic situation in Russia that may be impacting neighbors is not solely related to sanctions. It’s more complicated and it involves other issues. As reports “Armenpress” the U.S. Department of State Spokesperson Jen Psaki stated this at the course of daily press briefing held on December 18 in Washington, DC answering the question raised by Voice of America.

The reporter stated: “The United States signaled earlier this week that it might increase the economic pressure with more sanctions targeting defense, energy, and banking. This – but the sanctions on Russia are having an impact on other countries too, smaller countries such as Armenia, which has good relations with the United States, and the depreciation of the Armenian dram has accelerated this week. So my question is: Is there a policy or approach to help those countries that are or may be suffering because of the U.S. actions against Russia?”

In this regard, Jen Psaki noted: “Well, I think any country should look at the decisions and the policies of Russia as it relates to that. I would also say the economic situation in Russia that may be impacting neighbors is not solely related to sanctions. It’s more complicated and it involves other issues. Oil prices and general economic mismanagement in Russia play significant roles. The lack of economic diversification and development of innovation and entrepreneurship over the past decade all play roles. And so these are all factors that have led to some of the economic challenges that Russia is experiencing.”

 








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