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Russian Deputy Prime Minister Alexey Overchuk has said that trade with Armenia has dropped sharply and is expected to continue falling.
The TASS news agency cited him as saying that in 2026, compared with 2025, trade between Armenia and Russia had decreased by two-thirds.
“The situation developing in relations between the Eurasian Economic Union and Armenia was predictable. Over the past three or four years, we have been telling our Armenian partners that such risks exist, particularly the risk of a decline in trade turnover,” the Russian deputy prime minister said, according to TASS.
He noted that in 2024, trade turnover between Armenia and Russia reached a record level of nearly $12 billion.
“Last year, it decreased and fell to around $8 billion. This year, trade turnover is declining sharply: it has fallen by approximately two-thirds compared with the 2025 level. The situation is such that it will clearly continue to decline,” Overchuk said.
It should be recalled that ahead of the June 7 elections in Armenia, Russia imposed restrictions on imports of numerous Armenian goods, prompting producers to seek alternative markets.