Overchuk on the dramatic decline in trade turnover between Russia and Armenia

Trade turnover between Russia and Armenia is declining dramatically, in 2026 the figure fell by two-thirds compared to 2025, and it will continue to decline. This was stated to journalists by Alexey Overchuk, Deputy Prime Minister of Russia.

“The situation developing in relations between the EAEU and Armenia was predictable. Over the past 3-4 years we have been telling our colleagues in Armenia that such risks exist, in particular the risk of a decline in trade turnover,” the Deputy Chairman of the Russian government noted.

According to him, in 2024 trade turnover between Russia and Armenia reached a record level, around $12 billion, which is an enormous figure.

“Last year it fell to about $8 billion. This year there is a dramatic drop in trade turnover, it has fallen by roughly two-thirds compared to 2025. The situation is such that it will obviously continue to decline,” Overchuk stated.