State Duma Speaker Vyacheslav Volodin stated that Armenia's exit from the Eurasian Economic Union may cost the country at least 5 billion dollars, which is equivalent to 15-20% of the GDP. writesKommersant.ru.
According to Volodin, since Armenia joined the Eurasian Economic Union in 2015, the country's economy has grown significantly. GDP increased 2.5 times, from 10.55 billion dollars to 26.37 billion dollars. He also noted the preferential conditions of Russian gas supply. According to him, Russia supplies Armenia with gas for 177.5 dollars per thousand cubic meters, while the price in Europe reaches 633 dollars.
The speaker of the State Duma said that about a quarter of Armenia's exports go to the Russian market, but amid talks about rapprochement with the European Union, trade between the two countries has already decreased by 45.4%. He also mentioned that some Russian entrepreneurs have started to reduce their business in Armenia due to uncertainty about the future foreign policy path of the republic.
In addition to economic risks, Volodin also pointed out possible social consequences. He believes that the influence of Western liberal values is growing in Armenia, which can lead to internal divisions in society and the weakening of traditional institutions, including the church.
Earlier, the Minister of Foreign Affairs of Armenia, Ararat Mirzoyan, announced that when the time comes, the country will decide whether to choose the Eurasian Economic Union or the European Union.
