Significant positive developments are emerging in the Middle East, particularly around the Strait of Hormuz, Prime Minister Nikol Pashinyan said during a government session.

Pashinyan said the regional situation has shown “substantial positive developments,” pointing specifically to the strategic waterway.

He stressed the importance of continued market monitoring to manage inflationary risks, noting that prices do not always adjust downward after crises are resolved.

“It is very important that we properly monitor the market, because unfortunately, we sometimes see situations where crises arise and inflation follows, but when those crises are resolved, prices are not so eager to return to their previous levels,” Pashinyan said.

The prime minister instructed the Competition and Consumer Protection Commission to maintain close oversight of market activity and intervene where necessary to ensure fair pricing.

“Where there is objective room, make sure that prices return to their previous levels,” he added.