Political struggle in Armenia could hit the country’s economy: Vasily Koltashov

Vasily Koltashov, political analyst, commented to Alpha News on the pressure being placed on the Armenian opposition and the economic consequences of these ongoing processes.

“What’s happening in Armenia right now is something the West traditionally sanctions and, as some experts believe, may be using to influence political processes. It’s up to Armenian society whether the country retains an alternative to Pashinyan, his party, and his political course, or not.

Pashinyan senses that economic pressure on him is intensifying. His attempt to reach an agreement with the president of Russia, and once again persuade Russia to support Armenia, apparently didn’t yield results. In this situation, Pashinyan is trying to disregard the economic costs. He isn’t taking into account that agriculture, the food industry, industry as a whole, and Armenia’s international trade are all bearing losses. In the same way, he believes that, at such a difficult moment, he himself can create additional difficulties by taking action against an entire network of enterprises, including the Yerevan Brandy-Wine-Vodka Plant, the Multi Group company, fitness centers, shopping centers, restaurants, and other assets linked to the detained individual. Economic problems aren’t a decisive factor for Pashinyan, since he isn’t directly tied to the Armenian economy. At the same time, it’s obvious that this kind of policy could have negative consequences for the country as a whole,” Vasily Koltashov said.

According to the analyst, the political confrontation in Armenia is deepening the country’s economic problems and threatening its stability.

“Armenia is losing the Russian market, Armenia is losing the stability of businesses within the country, and this is creating a very tense situation that, in the expert’s view, points to serious political problems and raises questions about the future of Armenia’s political course,” Vasily Koltashov concluded.