Go ahead, Nikola…
EAEU governments have prepared a report on the consequences of Armenia's withdrawal from the Eurasian Economic Union
Go ahead, Nikola…
Representatives of the Eurasian Intergovernmental Council from Russia, Belarus, Kazakhstan, and Kyrgyzstan have prepared a report on the possible consequences of suspending the Treaty on the Eurasian Economic Union in respect of Armenia. "It includes assessments of the possible consequences of suspending the Treaty on the Eurasian Economic Union of May 29, 2014, in respect of the Republic of Armenia," says a publication on the website of the Russian Cabinet of Ministers.
The document notes that the republic's membership in the EU is incompatible with its participation in the EAEU, which gives the countries of the union the right to suspend Yerevan's participation in it pending a referendum. This, in turn, will entail consequences. In particular:
Armenia's GDP could shrink by 15.6%, and inflation could reach 14.9%; local products will face full-scale veterinary and sanitary control; trade turnover with EAEU states will decrease by more than 55%; the cost of gas imports to the republic will increase by 69% to $657.5 million per year; the tax regime applicable to third countries will be restored; labor force quotas will be introduced, and residents of Armenia will have to obtain work permits; the country's export of tourism services could drop by almost 40%, and alcohol exports by 50%; railway freight tariffs will rise.
In the spring of 2025, Armenia passed a law initiating the process of joining the EU. Following this, Russian President Vladimir Putin repeatedly urged Yerevan to resolve the issue of its participation in the EAEU as soon as possible. He stressed that the country has the right to choose its own partners, but being in both structures at the same time is impossible.
At the end of May this year, at the Eurasian Economic Union summit in Astana, the leaders of Russia, Belarus, Kazakhstan, and Kyrgyzstan adopted a joint statement. It states that they share the view on the need to hold a referendum in Armenia to reach a final decision.