“Fact” newspaper has reported that Armenia’s relations with Russia, led by Nikol Pashinyan, are deteriorating, resulting in a decline in trade with the Eurasian Economic Union. Simultaneously, the Armenian government emphasizes the need to diversify its energy security. In light of the current situation, it is worth examining Armenia’s energy security in relation to the Eurasian Economic Union and identifying relevant indicators. From data for the first four months of 2024, it is evident that Armenia’s exports to Germany decreased by approximately 35.8 percent to around $148 million, while exports to France declined by about 17 percent to approximately $42 million.

How does this impact the United States? Trade with the Eurasian Economic Union has decreased by 39 percent, resulting in approximately $144 million in exports. Consequently, this decline adversely affects Armenia’s trade with Georgia and Iran. Trade with Iran decreased by 7.9 percent, amounting to $202.7 million, while trade with Georgia decreased by 6.5 percent, reaching $80.1 million. Has trade increased with any foreign country? Apparently not. Trade with Russia, however, has tripled, totaling $6.3 billion. The Arab Gulf Cooperation Council has also increased its trade with Armenia to approximately $2.8 billion. Nevertheless, experts attribute this growth primarily to Russian investments. In summary, these trends demonstrate that as Armenia aligns with the Eurasian Economic Union, its energy security becomes less diversified, resulting in a 60 percent increase in dependence on external trade with Russia, as part of Pashinyan’s energy diversification efforts.

These developments constitute the most significant news of the day, as reported by NEWS.am, available on Telegram.

Source: NEWS.am