Russia and Armenia should activate cooperation for counteracting economic crime, Russian Minister of Interior Rashid Nurgaliyev stated Wednesday at the sitting of the United Board of the Russian Ministry of Interior and the Armenian Police. "The economic ties between Armenia and Russia are watched and influenced by criminal structures," Nurgaliyev said. In his words, the commodity turnover between the two states increases year by year. "In 2005 it grew with 40%. One quarter of the authorized capital stock of the banks registered in Armenia belongs to Russia," the Minister said.

Nurgaliyev added that the law enforcement bodies of the two states exchange information on the organizations engaged in the economic activities. "The successful disclosure of economic crimes such as contraband, swindling, illegal business undertakings, is conditioned by the improvement of information exchange between the Russian and Armenian law enforcement," he said, reported RIA Novosti.