Von der Leyen: Armenia still facing significant economic pressure from Russia

Armenia is still facing significant economic pressure from Russia, European Commission President Ursula von der Leyen said at a joint press conference with Armenian Prime Minister Nikol Pashinyan in Yerevan on Thursday.

"Turning now to the situation in your country. I know Armenia is still facing significant economic pressure from Russia. Nothing short of economic coercion, actually. But rest assured: when pressure mounts on our partners, the EU steps up," she remarked.

"And I have some announcements here too. First, you will soon receive an additional €18 million to help strengthen and diversify your trade. The funding can, for example, help establish an export promotion agency and boost the export capacity of Armenian businesses. These €18 million are the final part of the €52 million support package we discussed in our phone call in early June. Second, we are going a step further: we are presenting a proposal for Autonomous Trade Measures. They will liberalise almost 80% of Armenian exports to the EU. That means 80% of your trade with us will now be tariff-free. With this, we can re-route products that currently still rely heavily on the Russian market and send them to the European Union Single Market of 450 million consumers. So, this measure will open the European doors to almost 99% of Armenia's fresh fruits, vegetables, and plants that used to be exported to Russia. And it will open the door of the European Union Single Market to more than 90% of your exports of beverages and spirits. In fact, over the past month, we have seen more and more Armenian flowers arriving on our market. I think this is a beautiful symbol of a new chapter in our economic partnership. And this is only the beginning. With these new measures in place, you will have the means to diversify – and to diversify fast. In mid-July, we will deploy experts to Armenia to work directly with your producers, your businesses, and your exporters and help them seize all the opportunities that a privileged partnership with the EU can offer," von der Leyen said.