‘It leaves holes inside of you’: graphic novel aims to remember the history a

The Guardian, UK
Sept 6, 2026
David Smith in Washington

Dana Mashoian Walrath’s The Book of Genocides is an audacious and personal new look at genocides from Germany to Palestine

The artist Dana Mashoian Walrath’s new book honours the Jewish victims of the Nazi Holocaust. But she also expects it to get her banned from Israel.

That is because The Book of Genocides also contains a chapter that portrays Palestinians forced to live as second-class citizens and watch their homes bulldozed or bombed. “What does it mean to be starved?” the narrative asks. “To know that perpetrators have themselves experienced genocide and now commit genocide against you?”

There are many more questions posed by Walrath’s graphic history, which is quite unlike any other book about humanity’s periodic descents into the abyss of mass extermination and ethnic cleansing over the past five centuries.

In an experimental blend of anthropology, memoir and visual art, which encourages readers to cut the pages and create three-part interactive figures, she offers 10 case studies ranging from the killing of Indigenous peoples in the Americas and the enslavement of Africans to the Armenian genocide, Holocaust, Cambodia, Rwanda, Bosnia, Palestine and the persecution of the Rohingya.

Walrath, 66, an artist, writer and anthropologist, travelled to all 10 places represented in the book and has a personal connection with genocide. She is Armenian-American, the granddaughter of survivors who fled the systematic destruction of the Ottoman empire’s Armenian population during the first world war. For decades, her family’s survival story was condensed into a single narrative fragment.

When she asked her mother about her own mother’s childhood in western Armenia, she replied: “After her parents were killed, she hid during the day and ran at night with Uncle Benny and Aunt Alice from their home in Palu to the orphanage in Aleppo.”

It was only recently that deeper, more horrifying layers of that journey were revealed. When her mother, Alice, was diagnosed with dementia and moved into her home, Walrath took a leave of absence from her academic career to engage in full-time creative work, eventually publishing a verse novel about the Armenian genocide, Like Water on Stone.

The Genocide of Black Americans. Photograph: Harvard University Press

“After that novel came out my older relatives started telling me more details of what happened,” Walrath says from her studio near Burlington in Vermont, adorned with towering draft pages of The Book of Genocides and a monumental portrait of her mother. “I did not know about my grandmother hiding in an urn while her father was dismembered until about five years ago.

“She was taken into enslavement with her son. I also learned that my grandmother, at one point probably after sex, hit her enslaver on the head with a stone and the two of them fled. This is what my aunt told me. Can I verify it? Can I find these facts? I don’t know.”

This inheritance of violence and survival has haunted Walrath’s life and given her a personal connection to genocide, wherever it happens. She reflects: “It’s knowing what it does to people and knowing how it leaves holes inside of you and that you have to figure out how to overcome the desire to get even.

“You have to figure out how to transform the anger and the hurt into something productive and I feel like I’ve spent much of my adult life trying to figure out how to do that. Writing the novel let me exorcise a lot of demons and then writing this book was so gratifying because I could literally bring people together.”

Walrath committed herself to traveling to every location depicted in the book, seeking out survivors and descendants to sit with them in their grief. She spoke with survivors of Pol Pot’s killing fields in Phnom Penh, met with perpetrators and survivors of the 1994 genocide in Rwanda and visited Rohingya refugees in the sprawling camps of Bangladesh.

This deep exposure to human suffering took a severe toll on her physical health. The 66-year-old recalls via Zoom: “I got physically sick at various times and it would usually take the form of a terrible chest cold. Grief is supposed to live in the lungs and I got very sick after Auschwitz. I got very sick in 2013 when I crossed into the West Bank through the wall to go to Bethlehem with a bunch of Armenian pilgrims.”

Dana Mashoian Walrath in her studio Photograph: Harvard University Press

“I remember right after I came back from Auschwitz I was reading [Polish lawyer and Holocaust scholar] Raphael Lemkin’s autobiography. It starts out great and then he comes unravelled in the last couple of chapters. I had a spell where I was thinking, oh no, what if I lose my mind?

“Then I went through no, no, I have very good supports and live in nature and, at this moment in time, as America is well on its way into a very scary place, I felt like I could get up every morning and have something concrete to do to push back. When I reread the book recently it was even more shocking how many elements of USA 2026 are present in all these genocides.”

To convey these heavy histories, Walrath turned to a medium distinctively suited to representing the unrepresentable: comics. In the tradition of Art Spiegelman’s Maus and Joe Sacco’s Palestine, The Book of Genocides uses the graphic form to bridge the gap between abstract history and raw empathy.

“Comics are very active. I love cinema and it’s a very powerful medium for learning about things that might be outside of your experience but it is passive. You sit in your seat and you take it in. Comics are probably closer to cinema than anything else but they’re active. They’re created by a series of fragments that the reader has to take in and process and put together in an active way and because of that it gave me a vocabulary to talk about these horrors without making people run away from them.”

Walrath deliberately avoided drawing explicit, realistic acts of violence, opting instead for metaphorical representations. “I left out drawing most of the horror and was always walking the line between making sure the image was gonna draw people in, even if it was talking about something horrible,” she says.

The book’s unsettling interactive design aims to force readers to confront the systemic patterns of dehumanisation that make such horrors possible. Readers are invited to cut certain portrait pages into thirds, creating a “turn-the-flap” sequence – a structural device reminiscent of the surrealist game of “exquisite corpse”. As the reader flips the segmented pages, the illustrated human subjects transform back and forth between recognisable faces and non-human creatures – beasts, predators, vermin and parasites.

The Palestinian Genocide. Photograph: Harvard University Press

For Walrath, this physical interaction is not a gimmick but an exercise in moral philosophy. She explains: “I wanted people to try and get inside the mind of someone else and also to make it so that they would feel their potential complicity. Have I always spoken up when I’ve heard somebody call someone else a monster? Have I always spoken up if someone is called a parasite? I don’t know. A lot of times we let things slide.

“We’ve invited people to cut the pages to get people thinking about how we’re taught: what’s allowed and what isn’t allowed. We’re not supposed to desecrate books. We love books and yet we’re taught that war is OK, that it’s OK to kill other people. I wanted it there in an interactive, metaphorical but also subconscious way, rather than saying, this is what we do. People take it in differently when they’re interacting with it.”

The Book of Genocides relies on the concept of genocide developed by Lemkin and enshrined in the 1948 Genocide Convention: ‘acts committed with the intent to destroy in whole or in part, a national, ethnical, racial, or religious group” and marked by a process of dehumanisation of the targeted group.

As an anthropologist, Walrath finds a common thread running through half a millennium of genocidal violence. She argues that they are often less spontaneous outbursts of tribal hatred than highly planned, bureaucratic operations, with material interests – particularly land – playing a central role.

“Land theft almost always. The only exception is not really an exception; it’s enslavement. The Europeans stole Africa but then also stole African people and then put them into the transatlantic slave trade so, even though the land stealing was going on within the Americas, it was dependent upon European colonisation. Settler colonialism is nearly always there.

“Dehumanisation is part of that and then systemic injustices within the societies. These are precursors to massacre. What’s the difference between prisons in the US and many other countries where strictly disenfranchised people are the majority of the prisoners, and the Warsaw Ghetto?”

Perhaps the most controversial decision in The Book of Genocides is its chapter that addresses the history of Palestinian displacement and the aftermath of the 7 October 2023 Hamas attacks and Israel’s subsequent war in Gaza. The inclusion of Palestine under the banner of genocide is a move that Walrath knew would draw fierce criticism and potentially severe professional consequences.

Dana Mashoian Walrath in her studio. Photograph: Harvard University Press

“I decided that was the right thing to do because the goal of the book is to spark conversations, to put it out there, to talk about Palestine, call it a genocide, and let people start speaking with each other about it.

“It would be great for someone to try and say why it is and isn’t genocide, and at the same time. I think that the way I’ve employed the term is aligned with Raphael Lemkin’s intention about what genocide was. It’s aligned with the convention, with the Rome statute, and what we’re watching is political machinations making the convention useless.”

Walrath adds: “Indiscriminate bombing of any place is a war crime for sure. When we’re killing babies and killing children and keeping people from healthcare and selectively bombing hospitals and journalists, I have no doubt in my mind that this is a systemic attempt to eliminate a people.”

She is clear-eyed about the fallout of this stance in Israel. “I probably won’t be allowed to visit again, which would be sad because I have respect for the real peace activists there. Honestly, going to Jerusalem as an Armenian was incredibly powerful. But maybe this will change and in my lifetime maybe I’ll live long enough that I will be able to go back but I know right now after this book comes out I will no longer be able to arrive at the airport.”

Despite the harrowing terrain of her subject matter, Walrath remains fundamentally an optimist. She rejects the jaundiced view that human violence is an evolutionary inevitability. “I am sure that’s not true. I am sure that we’re hardwired to care for one another. Every time we see dehumanisation get undone in the midst of a war it’s because someone’s heart has been touched.

“It’s governments that perpetrate genocides and it’s baked into our systems and structures and because those systems and structures and governments are all human-made creations, we can make better ones. A rugged as the content is, the message is an underlying message of hope and that we can change this. It’s not inevitable.”

  • The Book of Genocides is out on 8 September

—

Armenia and United States Expand Critical-Minerals Pact Into Mapping and Proce

Sept 25, 2026

Highlights

  • Armenia and the U.S. have extended their critical-minerals framework to cover geological mapping, exploration, separation, and processing, though the May agreement remains non-binding.
  • No internationally compliant rare-earth resource or producing REE mine has been publicly disclosed in Armenia, despite decades of geological studies at sites like the Tezhsar alkaline complex.
  • The TRIPP corridor positions Armenia as a potential regional processing and logistics hub for critical minerals from the South Caucasus and Central Asia, not just a domestic ore supplier.
  • Armenia ranked sixth globally in molybdenum production in 2024, with copper-molybdenum exports heavily dependent on China, highlighting the strategic urgency of diversification.
  • Key geological studies from 1989 to 2025 identify REE-bearing minerals at multiple Armenian sites, but interesting geology has not yet translated into mineable, economic tonnage.

Armenia and the United States are pushing their critical-minerals partnership from diplomacy toward technical execution, with geological-data exchange, modern mapping, exploration, separation, and processing now on the table. The strategic case is real; the geological case remains early. Armenia has documented rare-earth-bearing rocks, but the sources reviewed show no publicly disclosed, internationally compliant rare-earth resource or producing rare earth element (REE) mine. The May framework is also explicitly non-binding.

REEx Insight — Armenia May Be Worth More Than Its Ore

REEx warned in May in Armenia’s Rare Earth Gamble and Armenia Joins the Rare Earth Chessboard that Armenia’s near-term value was optionality, not proven rare-earth scale, and that modern mapping could matter before mining. The overlooked clause is the Route for International Peace and Prosperity (TRIPP). The U.S.-Armenia framework explicitly links Armenia to critical-mineral transit from the South Caucasus and Central Asia, while prioritizing separation, refining, and value-added processing inside Armenia.

That creates a two-track thesis: test Armenian mineral systems for recoverable REE or critical-mineral byproducts while building a regional processing-and-logistics node that need not rely solely on Armenian ore. That is REEx inference, not a resource estimate. Grades, mineralogy, recoveries, capex, permitting, and offtake remain unanswered.

Four Decades of Geological Breadcrumbs

Work dating to 1989 at the Tezhsar alkaline complex identified more than 50 minerals, including allanite, monazite, xenotime, loparite, euxenite, and britholite. A 2011 Yerevan State University paper flagged Armenian nepheline syenites as REE-prospective; 2018 Lithos work characterized Tezhsar. A 2023 study proposed REE prospectivity in Meghri-pluton amphibolic gabbro; 2025 Lithos research found unusually LREE-enriched apatite at Abovyan. Interesting geology is not mineable tonnage.

Copper-Molybdenum Reality Meets Rare-Earth Ambition

USGS ranked Armenia sixth globally in molybdenum production in 2024; Kajaran, Agarak, and Teghout anchor its copper-molybdenum sector, while mining and quarrying contributed 3% of GDP. China received 76.6% of Armenian copper-concentrate exports. No REE mine production is reported.

The investor question is now sharper: can new mapping turn occurrences into economic resources—and can Armenia capture the processing margin? That is Great Powers Era 2.0™ in one sentence.

The principal citations supporting the Armenia/TRIPP research are:

1. Armenia–U.S. TRIPP Implementation Framework, Armenian Ministry of Foreign Affairs, Jan. 14, 2026. Official TRIPP framework

2. Armenia–U.S. Framework for Securing Supply in Mining and Processing of Critical Minerals and Rare Earths, May 26, 2026. This is particularly important because it discusses exploration, processing, value addition, and mineral supply from the South Caucasus and Central Asia. Official Critical Minerals Framework

3. Armenia–U.S. TRIPP Framework Agreement, signed June 4, 2026. Public Radio of Armenia — TRIPP agreement signed

4. Armenia-U.S. TRIPP Development Company / DFC investment package, June 4, 2026. Useful for distinguishing the infrastructure initiative from a purely conceptual corridor. Public Radio of Armenia — TRIPP Development Company

5. Rare Earth Exchanges — “Armenia’s Rare Earth Gamble: Corridor Diplomacy Meets Great Power Competition.” REEx article

6. Rare Earth Exchanges — “Armenia Joins the Rare Earth Chessboard as Washington Expands Critical Mineral Hunt.” REEx article

7. For the broader Great Powers Era 2.0™ interpretation, this REEx piece is especially relevant: “Rare Earths and the New Geopolitical Center: How Central Asia and the Caucasus Are Rewriting the Map of Power.” REEx Great Powers Era 2.0 context

—

993 missing: The number Armenian churches cannot ignore

Public Radio of Armenia
Sept 25, 2026

Imagine 1,000 young Armenian-American women standing together.

On a typical non-holiday Sunday, only about seven of them would be attending an Armenian church.

Approximately 993 would not.

That single image captures one of the most important challenges facing Armenian Christianity in America.

For generations, Armenian communities have invested enormous financial and human resources in churches, schools, cultural institutions, buildings, programs, and events. These institutions represent extraordinary accomplishments by generations determined to preserve their Christian faith and Armenian identity.

But preservation of institutions is not the same as participation in them.

Khachkar Studios’ research brings renewed attention to this distinction through its weekly Transparency, Accountability, and Performance framework – T•A•P.

The objective is not simply to ask whether Armenian churches remain open, whether budgets balance, or whether traditional programs continue.

The more important question is whether Armenians – particularly the next generation – are actually walking through church doors.

That question can and should be measured every week.

Weekly measurement changes the conversation because it converts general impressions about church participation into observable results.

How many people attended? How many were young? How many people were personally invited? How much outreach occurred outside church property? Which initiatives resulted in new attendance? Which did not?

Answers to these questions allow Armenian church leaders to learn while there is still time to act.

This is particularly important when the starting numbers are extraordinarily low.

Imagine 1,000 young Armenian-American women standing together. On a typical non-holiday Sunday, only about 7 would be attending an Armenian church. Approximately 993 would not.

That picture makes the challenge difficult to dismiss. The objective cannot simply be preserving institutions built by previous generations. It must be bringing a new generation into those institutions while there is still time.

Weekly T•A•P provides a way to determine whether that is happening.

Transparency makes participation visible. Accountability asks who is responsible for improving it. Performance determines whether activities and resources are producing measurable results.

None of these measures diminish the spiritual mission of the Armenian Church.

They help determine whether that mission is reaching people.

A church can possess a magnificent sanctuary, substantial assets, centuries of tradition, and dedicated leadership. But the future of Armenian Christianity ultimately depends upon people embracing and transmitting the faith.

That is why the 993 matter.

Each represents someone who might be reached, personally invited, welcomed, and ultimately become part of the Armenian Christian community.

The institutions previous generations built are an extraordinary inheritance.

The management challenge of this generation is filling them.

Speaking truth to power, Biblically inspired, world-class benchmarking and management excellence bring Transparency, Accountability, and Performance (T•A•P) to a power structure that has failed Armenian Christians for generations.

—

Gholipour: Iran needs concrete guarantees from Armenia on TRIPP, not just assu

News.am, Armenia
Sept 25, 2026

Gholipour: Iran needs concrete guarantees from Armenia on TRIPP, not just assurances

“It is entirely natural that Iran is concerned about the presence of its adversaries and enemies along its northern border,” Iranian expert Alireza Khoda Gholipour, Director General of the Center for Political and International Studies in Tehran, who has worked at Iran’s Foreign Ministry for many years, said on NEWS.am’s “Factor of Power” program, referring to Tehran’s concerns regarding the Trump Route (TRIPP) to be established in Syunik and the reasons behind them.

According to him, Iran’s leadership sees far-reaching goals behind TRIPP that pose a threat to their security.

“If they are sincere and honestly want to implement this project with positive goals – to ensure stability, prosperity and development in the region, to solve the problems of the countries of the region – then you welcome it. But I doubt that this is their real intention.

“After the aggression carried out by the United States and Israel against Iran, Iran’s perception of threats has changed, and our security concerns have deepened even further. Therefore, it is entirely natural that Iran is concerned about the presence of its adversaries and enemies near its borders. Iran cannot accept and tolerate this. If something happens that will put Iran’s security at risk, we will not leave it unanswered,” the Iranian expert said.

In response to the question of why Iran’s concerns have still not been dispelled, if the Armenian government is constantly assuring that no threat to Iran will arise if TRIPP is implemented, Gholipour emphasized that they need not merely verbal assurances, but specific guarantees.

“We need guarantees. The Armenian government, as you mentioned, has always assured the Iranian side that it will not allow third parties to use its territory against Iran or any other country in the region. This is very natural, and we are very grateful for that. But there must be guarantees on which this is based,” he said.

Gholipour emphasized that, whatever happens, Iran will not accept a change in the internationally recognized borders of the region.

“Iran will not accept the blocking, alteration or severing of the connection between Iran and Armenia. I mean the 44-kilometer border that we have with Armenia. Iran will not allow harm to be caused to its transit significance,” Gholipour stressed.

—

35 Years of Independence: Armenia as a Jurisdiction for Capital

Sept 25, 2026

YEREVAN, Armenia, Sept. 25, 2026 (GLOBE NEWSWIRE) — Thirty-five years after independence, Armenia’s first generation of entrepreneurs is reaching the point of exits and succession, and the capital they built is looking for institutional management. On the occasion of the anniversary, Armenpress, the country’s official news agency, interviewed Irina Belysheva, CEO of Wilco Wealth Management, about Armenia as a jurisdiction for capital.

Belysheva explains that for three decades, private wealth in Armenia was inseparable from operating businesses:
“For a long time, wealth accumulation followed a familiar cycle: profits were either immediately funneled back into company growth or left in classic bank deposits, rather than being treated as an independent institutional asset class.”

That model is now changing. A new generation is stepping in: mobile, doing business across several jurisdictions, and approaching risk management and asset structuring differently.

She sees advantages in Armenia’s wealth management industry being relatively young. 
Unlike mature financial centers, it can be shaped without entrenched legacy systems and thus be more agile and technology-enabled. A compact market further enables an open, professional dialogue between the regulator and the industry, allowing for swift adaptation and continuous refinement of legislation.

Belysheva also highlights Armenia’s growing role as a connector between Europe, the Middle East and Asia, as the country integrates into transport corridors such as the North-South route and regional initiatives including the TRIPP project. As capital seeks diversification, she notes, international investors view jurisdictions as balancing points within broader global portfolios.

Regarding the diaspora, Belysheva argues that support based mainly on charity has reached its natural limits. Younger generations increasingly look at Armenia as investors, guided by what she calls “market return plus real impact.” Such investors are ready to commit capital when they see promising opportunities, transparent corporate governance and robust protection of their rights.

She also cautions against copying Western family governance templates:
“In our region, business is inextricably tied to personal relationships, respect for older generations, and the unwritten division of roles. Succession mechanisms cannot simply be copied out of a foreign textbook.”

The interview also openly addresses the gaps. Armenia’s banking sector is liquid and well capitalized, with assets reaching roughly 112% of GDP, yet the local stock and corporate bond markets remain small. She notes that the Government’s 2026-2031 Program prioritizes capital market development.

For Belysheva, the key test of the next decade is helping businesses lengthen their planning horizons, so that long-term capital stays in the domestic economy.

Belysheva describes Wilco’s role as that of “a reliable co-pilot” for Armenian founders and families: connecting Armenian capital with global markets and helping foreign and diaspora capital come to Armenia.

The full interview is available at: st1yle=”box-sizing:border-box;margin:0px 0px 30px;letter-spacing:0.1px;font-size:16px;line-height:32px;color:rgb(53,73,94);font-family:Roboto,Arial,sans-serif;word-break:break-word”>Wilco LLC is regulated by the Central Bank of Armenia. This material does not constitute an investment recommendation.

Notes to editors
About Wilco Wealth Management
Wilco Wealth Management (Wilco LLC) is an investment and wealth management firm headquartered in Yerevan, Armenia, regulated by the Central Bank of Armenia.

Media contact:
Lena Gyulkhasyan, Head of PR, Wilco Wealth Management: [email protected]

A photo accompanying this announcement is available at class=”gmail_default” st1yle=”font-family:tahoma,sans-serif”>

—

Armenia Reaffirms Support for Morocco’s Sahara Autonomy Plan

Morocco World
Sept 25, 2026

Yerevan has reiterated its position on the Western Sahara dispute while signaling interest in deepening political and economic ties with Rabat.

Agadir – Armenia has reaffirmed its support for Morocco’s Autonomy Plan for the Western Sahara, describing it as a realistic political solution and linking it to the strengthening of Morocco’s territorial integrity.

The position was reiterated during a meeting in New York between Morocco’s Minister of Foreign Affairs Nasser Bourita and his Armenian counterpart, Ararat Mirzoyan, on the sidelines of the 81st session of the United Nations General Assembly.

According to Armenia’s Ministry of Foreign Affairs, Mirzoyan recalled a letter sent by Armenian Prime Minister Nikol Pashinyan to King Mohammed VI in July, in which Pashinyan expressed Armenia’s support for Morocco’s initiative on the Sahara.

“We attach particular importance to the Moroccan initiative on the Sahara issue submitted to the UN in April 2007, considering it a realistic political solution,” Pashinyan said in the letter.

He added that UN Security Council Resolution 2797, adopted on October 31, 2025, represented a milestone and would pave the way for strengthening Morocco’s territorial integrity and promoting peaceful coexistence and prosperity in the region.

The Armenian prime minister also described relations between Armenia and Morocco as warm and friendly, noting that the two countries have significant potential to further develop their ties.

Armenia, Morocco seek stronger bilateral cooperation

The meeting also focused on strengthening relations between Yerevan and Rabat.

“The Ministers discussed opportunities for further development of relations between Armenia and Morocco, emphasizing the mutual political willingness to forge closer ties between the two countries,” Armenia’s Foreign Ministry added in its statement released today.

Mirzoyan and Bourita discussed expanding the countries’ bilateral legal framework and organizing high-level visits.

They also exchanged views on mechanisms to promote trade and economic ties, as well as cooperation within multilateral platforms and regional developments.

—

Report: Armenian Christian child attacked in Jerusalem for riding bike with he

Times of Israel
Sept 24, 2026

A nine-year-old Armenian Christian boy was reportedly attacked by Jewish extremists in Jerusalem for riding his bike with headphones on during Yom Kippur earlier this week.

Channel 13 airs footage of the boy receiving treatment from paramedics in an ambulance after he was pepper-sprayed by the Jewish extremists.

The network says this was the second time that the boy has been attacked. The first time he was with his father, who protected him, but this time he was alone.

His mother tells the network that her son has had a hard time sleeping since the attack and has become fearful of outwardly Jewish-looking individuals.

Channel 13 says that despite the attack being caught on security cameras, police closed the case without making any arrests.

—

New York event explores how Azerbaijan-Armenia peace unlocks more pay dirt for

Intellinews
Sept 24, 2026

US companies are lining up for the chance to hit pay dirt from a confirmed Washington-brokered peace between Azerbaijan and Armenia. Such a reliable end to hostilities would provide the final 43-km (27-mile) piece for a corridor that would stretch from Turkey to China, via the South Caucasus and Central Asia.

On September 23, executives from more than 40 companies gathered in New York together with officials from countries angling to capitalise on the proposed corridor, known as the Trump Route for International Peace and Prosperity (TRIPP) and set to feature rail and road links as well as energy and digital infrastructure.

Held on the sidelines of the annual UN General Assembly, the event featured US special envoy Steve Witkoff and Republican Senator Steve Daines of Montana, as well as officials from Armenia, Azerbaijan, Georgia, and the five Central Asian states.

Once green-lighted, TRIPP, would be developed by a US-Armenian company in which the United States would hold a controlling stake. That is no doubt causing plenty of discomfort in Moscow, already miffed by Armenia increasingly slipping out of its sphere of influence, given the Western orientation of the small country’s Pashinyan administration. However, no contracts have yet been signed and no construction work in Armenia is expected before next year.

A difficulty is that while Armenia and Azerbaijan agreed on a peace treaty text in March 2025, and Armenian Prime Minister Nikol Pashinyan and Azerbaijani President Ilham Aliyev endorsed it in the presence of US President Donald Trump at the White House five months later, the neighbouring countries have yet to finalise an agreement. Another is that the corridor would run through territory located not much more than a mortar’s throw from Iran and Tehran’s toleration of TRIPP will be sorely tested if it cannot resolve its war with the US to its satisfaction.

Some feasibility studies for TRIPP work in Armenia are under way and there could be some bidding for major contracts as early as before the end of this year.

Financial, corporate structures

Washington, meanwhile, under the watchful eye of the business-minded Trump, is creating financial and corporate structures aimed at turning TRIPP plans into viable projects that are investable.

The US and Armenia are establishing TRIPP Development Company. A majority stake in the joint venture will go to Washington. It would then supervise corridor infrastructure development and competitive tenders for the Armenian TRIPP section.

A Trans-Caspian Enterprise Fund will be established in parallel, tasked with sourcing private capital for connectivity projects across countries in the wider region with an interest in TRIPP proving a success.

Andrew D’Anieri, associate director of the Atlantic Council’s Eurasia Center, told RFE/RL in New York that the two initiatives signalled deeper US economic engagement.

“Advancing TRIPP and announcing the Trans-Caspian Enterprise Fund in the presence of senior regional officials and major US companies sends a strong signal that America means business,” D’Anieri was quoted as saying.

“[But] TRIPP will advance more slowly given the degree of technical project difficulty and geopolitical sensitivities,” he added.

Road to Nakhchivan

For Azerbaijan, a tremendous reward from a signed peace deal and TRIPP will be finally having a straightforward overland link to its Nakhchivan exclave, which is wedged between Turkey, Iran and Armenia. The US, on the other hand, sees potential sizeable benefits at all points of the compass resulting from TRIPP.

RFE/RL also spoke to Angela Howard, a research analyst at the Foundation for Defense of Democracies’ Center on Economic and Financial Power, who remarked: “US investment in the Caucasus places an American foot in the gateway to Central Asia.”

That could prove vital in future to the shipping of critical minerals mined in Central Asia, often with US financing and project involvement, westward.

Special envoy Witkoff said he anticipated that TRIPP will generate “huge investment”, particularly in Armenia.

“Everybody’s focused now on transmission and speed to market,” he added, referencing estimates that the transit route could reduced some trade journeys by up to three weeks.

Armenian leader Pashinyan talked of TRIPP implementation “fully unlocking” regional connectivity. It would, he said, “open a new era” for Armenia and its economy.

—

Armenian Prime Minister Pashinyan says new prospects have opened for South Cau

UA News, Ukraine
Sept 25, 2026
Armenian Prime Minister Pashinyan says new prospects have opened for South Caucasus — Anadolu Agency

Armenian Prime Minister Nikol Pashinyan said during the 81st session of the UN General Assembly in New York, United States, that peace between Armenia and Azerbaijan has opened new prospects for the South Caucasus. As Anadolu Agency reports, he linked these opportunities to the development of regional transport connectivity and economic cooperation.

Statement on the peace process

According to Pashinyan, peace between Yerevan and Baku was established on August 8, 2025, with the support and personal involvement of US President Donald Trump. He also said that there had been no deaths or injuries as a result of shelling between Armenia and Azerbaijan for two and a half years, calling this period unprecedented since Armenia gained independence.

TRIPP transport project

Pashinyan separately mentioned the Trump Route for International Peace and Prosperity, or TRIPP, project. It envisages opening transport routes through Armenia’s territory and connecting Azerbaijan with its Nakhchivan exclave.

More current news is available on the UA.News Telegram channel Telegram.

Under the framework agreement between Armenia and the United States, the jointly established TRIPP Development Company will be 74% owned by the United States and 26% by Armenia during the initial 49-year term. If the arrangement is extended for another 50 years, Armenia’s share is to increase to 49%.

The Armenian prime minister said that rail links between Armenia and Azerbaijan had been restored for the first time since the Soviet period. According to him, the countries are also working to establish a direct rail connection between Azerbaijan and Nakhchivan. Pashinyan added that Armenia’s relations with Russia are undergoing a transformation.

—

Russia Is Down But Not Out in Armenia

The Moscow Times
Sept 23, 2026

Russia Is Down But Not Out in Armenia

By Nicholas Castillo

In the aftermath of Armenia’s elections in June, much international media coverage framed the result as a decisive victory for pro-Western forces and a development likely to solidify Yerevan’s ongoing pivot away from Moscow.

Yet, despite the victory of the European-aligned governing Civil Contract party, such a triumphalist tone fails to capture the scale of the leverage Russia continues to hold over Armenia. Since April, Moscow has rolled out a number of trade restrictions seemingly designed to economically punish the country for its growing ties to Europe.

One lever of Kremlin influence may prove to be the most impactful in the coming months: gas. Nearly all of Armenia’s natural gas supply — 82% last year — is provided by Russia. Even Iranian gas, the only other supply available to Armenians currently, is transported via a pipeline operated by Gazprom. 

Russian officials have said that if Armenia continues its trajectory of strengthening ties with the European Union, Moscow may reconsider the preferential pricing Yerevan receives from Russia’s gas juggernaut. For the time being, costs remain stable. But Gazprom is scheduled to reconsider its pricing for Armenia this January.

In the meantime, this month Russia announced that it would be suspending gas supplies between September 15 and 25. While officials cited maintenance as the reason for the shortfall, the timing of the announcement was read as a shot across the bow for Armenia. 

Armenia’s Central Bank has warned of the potential fallout of a spike in gas prices, saying such a move would cause an “egregious economic shock” that could trigger broader inflation throughout the economy. 

The degradation in Armenia-Russia relations dates to Moscow’s inaction over Azerbaijani offensives in 2020, 2022 and 2023. In their aftermath, Prime Minister Nikol Pashinyan has sought to deepen political, security and economic ties with the United States, European Union and France in particular.

Recent years have seen Armenian politicians green-light proposals around a potential EU membership application and invite the United States to oversee a strategically critical transit corridor linking Azerbaijan to its exclave of Nakhchivan through Armenian territory. 

Yet economic ties between Armenia and Russia only began to deteriorate in the run-up to Armenia’s June 7 parliamentary election. Beginning in April, Russia banned the import of a number of Armenian goods, citing health and safety regulations. 

The trade restrictions have only intensified following the victory of Pashinyan’s governing Civil Contract party. Today, nearly every agricultural and foodstuff good produced in Armenia is barred from entry to the Russian market, from strawberries and dairy products to spirits and mineral waters. A September World Bank report found that Armenian vegetable exports had shrunk by 52% in July alone due to these restrictions.

With Turkish markets closed to Armenia since the early 1990s, Russia has been the main destination for Armenian goods since independence. This is especially pronounced for agricultural products, with upwards of 95% of Armenian fruit and vegetable exports destined for Russian shelves in recent years. Shortly after its 2015 founding, Armenia became a member of the Eurasian Economic Union (EAEU), a Russian-backed customs union designed to create a single market between post-Soviet member states.

The European Union has attempted to facilitate Yerevan’s westward turn. Visiting Yerevan this July, EU Commission President Ursula von der Leyen announced plans to liberalize trade restrictions on Armenia and provide millions of in euros to help firms navigate the trade shock. Von der Leyen framed the moves as a testament to Brussels’ reliability, saying, “I’m here with a simple message: Armenia can count on us.”

But commercial patterns take time to adjust, and it remains unclear how much economic damage will be mitigated by these efforts. As much as one-fourth of the Armenian workforce is involved in agriculture, and some degree of economic pain seems inevitable. 

The coming months may therefore see two simultaneous crises: a compounding degradation of the agricultural sector and a potential shortage of gas with wide-reaching consequences.

Add to this configuration another element of the June 7 elections: the cementing of Armenia’s opposition as an overwhelmingly pro-Russian force. 

Pashinyan’s Civil Contract party came out on top of the elections, but still underperformed some expectations, winning just under 50% of the vote and falling short of the constitutional supermajority he had sought. Meanwhile, while upwards of a dozen opposition parties contested the elections, only three garnered enough votes to come close to crossing the 4% vote share threshold.

All of those three parties are broadly regarded as pro-Russian forces, likely acting with some degree of coordination with the Kremlin. The largest — Strong Armenia — is led by Armenia’s richest man, Samvel Karapetyan, a Russian-Armenian dual citizen and former Gazprom subcontractor. 

If Russian coercive action triggers a major economic downturn, it may serve to propel the narratives of opposition figures who warned of such a crisis. That Russia was Armenia’s indispensable ally and that Yerevan’s shifting alliances risked Armenia’s economy was the explicit argument made by former President Robert Kocharyan during the campaign. His party placed third in June, winning a number of seats in parliament. 

Pashinyan appears to be attempting to resolve the trade conflict with Russia. Since his re-election, he has visited Russia, holding talks with Prime Minister Mikhail Mishustin. The Armenian prime minister also met with Putin during Kyrgyzstan’s summit of the Shanghai Cooperation Organization. Yet, neither set of talks resulted in the lifting of trade restrictions.

Putin has stuck to his position that Armenia should hold a public referendum on the question of whether Yerevan will pursue European integration or remain in the EAEU. Pashinyan has pushed back on such a demand, arguing that it is Russia violating the terms of the EAEU treaty and that any referendum on EU or EAEU integration is premature. 

There are broader signs of Yerevan not backing down from its pivot westward. Alen Simonyan, one of the most publicly anti-Russian members of Pashinyan’s party, was named the head of the National Security Council following June’s elections. 

With neither side prepared to cave in to the demands of the other, it would seem there is little prospect of a coming rapprochement between Yerevan and Moscow. Given the depth of Armenia’s economic interconnectedness with Russia, the question is not whether there will be economic pain felt by Armenians, but the degree of it and the effectiveness of measures to minimize the harm.

This winter may therefore prove just as decisive in Armenia’s geopolitical trajectory as the parliamentary election, with the Kremlin poised to inflict more pain on the country than it has in any previous period. While such a development may produce anti-Russian feelings, it will also bear out the predictions made by pro-Russian political actors within Armenia’s political scene.

A failure to adequately prepare for, or respond to, a potential economic crisis may strengthen the perception that Pashinyan’s pivot westward was a little more than a risky miscalculation.

The views expressed in opinion pieces do not necessarily reflect the position of The Moscow Times.

—