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Azerbaijani Armed Forces again shelling Armenian positions

Nagorno-Karabakh Defense Army: Adversary will receive response for its actions

Two servicemen of Nagorno-Karabakh Defense Army die in conflict zone

Hrant Bagratyan stresses the need to expand the scale of dismissals in Armenian Defense Ministry system

Head of EU Delegation to Armenia: Both Armenians and Azerbaijanis should prepare for peace

Parliamentary forces of Armenia ready to sign "gentleman's agreement" on excluding pre-election bribes

Mammadyarov to Sargsyan: Conditions put forward for resumption of negotiations undermine peace process on settlement

Azerbaijani FM: Russia has offered a phased solution to the Nagorno-Karabakh conflict

Zaruhi Postanjyan: Large-scale armed hostilities in Artsakh are yet to start

Armenian delegation comments on the ban on Artsakh flag at Eurovision Song Contest

UITE: 300 specialists and 50 companies in IT sector and engineering willing to contribute to development of Military Industrial Complex of Armenia

Sharmazanov to Mammadyarov: Baku will not succeed in its attempts to throw dust in eyes of international community

Armenian PR Association to establish with Beeline's support the first national PR award in Armenia

Areximbank-GPB Group staff members visit schools in Armavir region under My Finance Month-2016 project

Armenia's Parliament Vice Speaker: No negotiations are possible unless Azerbaijan stops violating ceasefire

U.S. Congresswoman Loretta Sanchez Calls for Leahy Law Investigation of Azerbaijani Abuses

Bako Sahakyan says Karabakh will cede no land and urges world community to reconsider its attitude towards aggressor

Bako Sahakyan: Karabakh conflict cannot be settled, unless Artsakh in involved in peace talks

Konstantin Kosachev: Turkey's stance on Karabakh encourages of one the sides to the conflict to continue it

Azerbaijan continues violating ceasefire arrangements

Armenian Defense Ministry registers 18 incidents on border with Azerbaijan

SCR: Number of railway casualties in Armenia keeps increasingly growing

Ankara hopes Karabakh conflict will be resolved with due regard for 'sovereignty' of Azerbaijan

Beeline extends functions of My Beeline Armenia application

Nikol Pashinyan: Opposition exaggerates Electoral Code's role in holding fair elections

France-Karabakh Circle of Friendship perplexed by lack of Paris' official reaction to Baku's explicit threats

Nagorno-Karabakh Defense Army presented evidences of rocket bombardment of Mataghis by Azerbaijani armed forces

Central Bank of Armenia approves merger agreement of ProCredit Bank and INECOBANK

Stratfor forecast: Military escalation will continue to be a possibility in Nagorno-Karabakh, with effects that reach far beyond the bounds of the small contested territory

EU supports peaceful resolution of Karabakh conflict, Malena Mard says

Azerbaijan's armed forces fire more than 240 rounds at Karabakh positions and target Mataghis populated area overnight

Armenia's Defense Ministry: Azerbaijan shells at state border with Armenia

U.S. Department of State: We have remained in contact with both governments and we need to see the peace process back up and running as soon as possible

Manvel Sargsyan: Armenia due to reconsider fundamentally its 20-year-long policy towards Russia

Seyran Ohanyan: There will be no new dismissals in Armenia's defense system

Nagorno-Karabakh Defense Army: Adversary's movements noticed on northeastern direction of line of contact

Artsrun Hovhannisyan: Situation in Artsakh is quiet at the moment

Yerevan: The time has come for international community to call Baku to order by using specific measures

Arpine Hovhannisyan: Mihran Poghosyan case is being investigated

Russian foreign ministry: the primary task is to exclude regular outbreak of aggression

Three Armenian servicemen wounded on Line of Contact of Nagorno-Karabakh and Azerbaijani troops

Investigative Committee: Identity of the second killed passenger is established

National Revival: Hermine Naghdalyan's statement is a stab in the back of Artsakh soldier

Communist Party of Russia suggests Vladimir Putin to deploy missiles in Cuba to protect Russia and Armenia

Russia thinks military contacts of Baku and Yerevan may be continued

NKR Defense Army: Baku's reports that Armenian side allegedly uses ammunition banned by international conventions are delirium

Oskanian's party not to demand Serzh Sargsyan's resignation

Stepanakert condemns Baku's attempts to denounce unilaterally the trilateral cease-fire agreement of 12 May 1994

Russian Foreign Ministry: Contribution to search for optimal solutions in Nagorno-Karabakh peace process continued

David Babayan: Politicians who fill their stomachs with caviar or pockets with oil revenues and glorify dictatorships are terrorists too

Regional

Economist: The West's sanctions against Russia will affect the Armenian economy

  • Thursday, July 31, 06:54

The West's sanctions against Russia concern the fields of energy, technologies and finances and cannot but affect the Armenian economy, well-known Armenian economist, professor Tatul Manaseryan told ArmInfo on Wednesday.

He said that the Armenian economy strongly depends on Russia's transfers and energy. "Each year our joint projects are supposed to become more and more science intensive and to transit from extraction to processing, which will become impossible without western technologies. The sanctions will also affect Armenia's financial market as many projects in our country are financed by banks with Russian capital," Manaseryan said.  

According to the expert, on the one hand, western investments may ebb from Armenia in the coming years, but on the other hand, if Armenia joins the Customs Union and then the Eurasian Economic Union, it will get access to new sales markets and will become much more attractive for investors. "The key task for Armenia today is to diversify its foreign economic ties – its exports and investments flows. Heavy dependence on one country – even if it is a strategic partner – is fraught with serious risks. In the last years the Armenian economy has been diversified a bit, but this has been done not by the government but by individual businessmen who keep searching for new markets," Manaseryan said.

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