PM Abrahamyan’s proposal for switch to ruble in trade advantageous to Armenia in every respect: expert

A switch to the ruble in trade relations with Russia will benefit Armenia from an economic, financial and other points of view because our country has no problems with that currency, quite the opposite, there is a surplus of rubles because of transfers, member of the opposition party Armenian National Congress (ANC), economist Vahagn Khachatryan told a press conference today when commenting on Armenian Prime Minister Hovik Abrahamyan’s proposal to switch to the ruble and stop using the dollar in trade relations within the framework of the Eurasian Economic Union (EAEU).

The Armenian PM voiced that proposal at the recent meeting of the heads of government of EAEU member states in Belarus.

Abrahamyan’s proposal, which sparked heated discussions, was related mostly to commercial deals on energy carriers. The Armenian prime minister said during the September 16 briefing in the parliament that Armenia’s partners in EAEU will discuss his proposal at the end of the year. Russian President Vladimir Putin earlier introduced a bill in the State Duma proposing abandoning the dollar in CIS.
V. Khachatyan said the Armenian PM’s statement on using the ruble in trade was unexpected because such proposals are discussed in advance in EAEU economic circles, which was done in that case.

The expert, however, is skeptical about the possibility of Russia’s switching to the ruble in trade with Armenia.