Armenia ex-PM: Fantastic opportunities amid Russian sanctions

Armenia ex-PM: Fantastic opportunities amid Russian sanctions

PanARMENIAN.Net - Deputy Chairman of the Board of the Eurasian Development Bank, ex-Prime Minister of Armenia Tigran Sargsyan believes that the risk of pressure on Armenia from the West amid anti-Russian sanctions has existed and continues to exist. However, he claims, the situation has created fantastic opportunities for Armenia.

The U.S. Department of State sanctions coordinator James O'Brien said that Turkey, Kazakhstan, Georgia, the United Arab Emirates and Armenia are helping Russia bypass all the sanctions. By the beginning of this year, Russia was able to import certain key categories of electronics at roughly pre-war levels, according to the U.S. official.

Sargsyan said in an interview with Sputnik Armenia and Alfa news on Thursday, June 8 such a risk existed even at the peak of anti-Iranian sanctions. However, he reminded, Iran is Armenia's closest neighbor, and Yerevan has never cut off economic ties with it, despite the sanctions. The development of economic cooperation proceeds from the interests of Armenia, he said.

According to him, the same principle is true now, in the light of restrictions on the Russian economy.

"Armenia must do everything to get the maximum benefit from the current situation," Sargsyan is said, maintaining that anti-Russian sanctions create both risks and new opportunities.

“For example, fantastic opportunities have been created for Armenia, as there is an influx of colossal capital into the country, hundreds of enterprises in the IT field have been created. These companies employ specialists from the countries of the Eurasian space, the products created are provided for this space. So Armenia greatly benefits from this," Sargsyan said.

At the same time, in his opinion, it is necessary to maintain relations with countries that apply sanctions, demonstrating that Armenia is defending its interests.

Western countries have imposed large-scale sanctions against Russia after it launched a war against Ukraine.

 Top stories
Speaker of Parliament Alen Simonyan has said Armenia will, in all likelihood, ratify the Rome Statute.
Vaqif Sadiqov has threatened that his country’s military will deploy sniper rifle if EU observers approach the border between the two countries.
Armenian Prime Minister Nikol Pashinyan will leave for Sochi on June 7 on a three-day working visit.
The delegation headed by Armenian National Assembly President Alen Simonyan is leaving for Turkey.
Partner news