Russia has emerged as Armenia’s leading trading partner, as evidenced by the impressive trade turnover figures. In the first 9 months of 2023, we have surpassed last year’s numbers by a remarkable 43.5%, reaching an astounding $4.4 billion. What is even more remarkable is the current surge in our trade volume. Just recently, on December 15, Alexey Overchuk, the Deputy Prime Minister of the Russian Federation, made this announcement in Yerevan.

“We have achieved outstanding results in terms of agricultural product supply, both in terms of export and import, as well as in the field of mineral trade,” he declared.

Furthermore, significant strides are being made in the financial and banking sector through our collaboration. It is worth highlighting that the Russian ruble accounted for a staggering 90.3% of the overall transactions between Russia and Armenia during the January-September period of 2023,” the Deputy Prime Minister of the Russian Federation emphasized.

These developments in the trade and economic relations between Russia and Armenia signify a positive outlook for both parties, demonstrating the potential for continued growth and cooperation. It is undoubtedly a cause for optimism and holds great promise for the future.