EU offers Armenia trade lifeline after Russia curbs
The European Union on July 2 announced fresh financial and trade support for Armenia, as the Caucasus country reels from what Brussels called Russian “economic coercion” following its pro-Western turn.
Moscow, angered by Yerevan’s pivot away from its traditional ally, slapped bans and restrictions on a range of Armenian imports, including fruit, vegetables, flowers and beverages, ahead of June 7 parliamentary elections.
European Commission President Ursula von der Leyen, speaking in Yerevan alongside Armenian Prime Minister Nikol Pashinyan, said Armenia was “still facing significant economic pressure from Russia, nothing short of economic coercion actually.”
“When pressure mounts on our partners, the European Union steps up,” she said, announcing an additional 80 million euros [$92 million] in assistance to help Armenia “strengthen and diversify” its trade.
