Armenia spends $40 million to support exporters due to Russian trade restrictions The Armenian government has allocated about 15 billion drams ($40 million) to subsidize national exporters facing restrictions on the Russian market. This is what the Minister of Economy of the Republic, Geborg Papoyan, said on November 6, during parliamentary discussions on the draft state budget for 2027. Initially, just over 2 billion drams were provided to support exports in 2026, but due to trade disputes, the amount of funding had to be increased almost sevenfold. According to the minister, Yerevan considers the restrictions introduced unfounded and expects their removal following negotiations with Moscow. To resolve the situation, the Armenian side also turned to the Eurasian Economic Commission. Against the backdrop of commercial disagreements, Armenia continues its path towards the diversification of foreign economic relations. At the same time, the Republican authorities emphasize that they have no intention of abandoning the Russian market and EAEU membership. In the past, the Council of the European Union supported the temporary liberalization of trade with Armenia, while providing preferential access to the European market for approximately 80% of Armenian exports to the European Union. Vestnik Caucasus.

Armenia spends $40 million to support exporters due to Russian trade restrictions The Armenian government has allocated about 15 billion drams ($40 million) to subsidize national exporters facing restrictions on the Russian market. This is what the Minister of Economy of the Republic, Geborg Papoyan, said on November 6, during parliamentary discussions on the draft state budget for 2027. Initially, just over 2 billion drams were provided to support exports in 2026, but due to trade disputes, the amount of funding had to be increased almost sevenfold. According to the minister, Yerevan considers the restrictions introduced unfounded and expects their removal following negotiations with Moscow. To resolve the situation, the Armenian side also turned to the Eurasian Economic Commission. Against the backdrop of commercial disagreements, Armenia continues its path towards the diversification of foreign economic relations. At the same time, the Republican authorities emphasize that they have no intention of abandoning the Russian market and EAEU membership. In the past, the Council of the European Union supported the temporary liberalization of trade with Armenia, while providing preferential access to the European market for approximately 80% of Armenian exports to the European Union. Vestnik Caucasus.