The European Commission has allocated €34 million to Armenia to reduce the impact of trade restrictions imposed by Russia on the country’s private sector, according to a statement issued by the Commission.

The statement notes that just two weeks after a phone conversation between European Commission President Ursula von der Leyen and Prime Minister Nikol Pashinyan, the European Union moved to implement the commitments it had undertaken in support of Armenia and its citizens.

The financial allocation represents the first component of a broader assistance package announced by von der Leyen. The package includes trade facilitation and solidarity measures aimed at strengthening Armenia’s economic stability and resilience.

Building on agreements reached during the EU-Armenia summit held in May, the European Union and Armenia will continue close cooperation to develop business ties and expand Armenian producers’ access to various markets. Sectors affected by trade restrictions, including agri-food production, floriculture and other export-oriented industries, will receive additional support through trade promotion programs, business networking initiatives and targeted measures designed to improve market access.

The EU-Armenia Task Force on Economic Resilience has continued its regular meetings to ensure coordination and monitoring of the implementation of these measures.

European Commissioner for Enlargement Marta Kos stated:

“The European Union firmly stands by Armenia as a sovereign, democratic and independent country. We are providing not only financial support, but also helping Armenia facilitate trade with its neighbors and with Europe. This is a practical expression of European solidarity toward one of our closest partners.”

Marta Kos is scheduled to visit Armenia on July 5 to discuss and advance further practical steps within the framework of EU-Armenia cooperation.