Nikolay Pavlov: Armenia entering ruble zone rumors

PanARMENIAN.Net - Russia never leaves friends in trouble, the Russian Ambassador to Armenia said, when commenting on Russia's decision to accommodate Armenia with a $500 loan.



"Nevertheless, the Russian embassy is unaware of Armenia's intention to join the ruble zone," Ambassador Nikolay Pavlov told a news conference in Yerevan. "There was an idea to expand the ruble area throughout the CIS but it oppressed by the global financial crisis."



For his part, Russia's trade commissioner in Armenia Alexander Zaytsev informed that new projects will not be developed yet. "Under the global crisis, we should support the existing projects, specifically construction of a new power-generating unit and modernization of the railways.



Earlier, head of the RA NA standing committee on economic affairs Vardan Ayvazyan said that Armenia can enter the ruble zone in exchange for a stabilization loan. He did not rule out that the two countries consider not only financial but also economic projects. "Anyway, the Armenian citizens will decide whether to join the ruble zone or not," Ayvazyan said.