In Armenia, the CEC refused to remove the main pro-Russian bloc from elections

Nasha Niva
June 6 2026

In Armenia, the CEC refused to remove the main pro-Russian bloc from elections

On June 6, the Central Election Commission of Armenia, a day before the parliamentary elections, refused to remove the opposition bloc “Strong Armenia”, led by the Armenian-Russian billionaire Samvel Karapetyan. This was reported by the Armenian service of Radio Free Europe/Radio Liberty (Radio Azatutyun).

Rally of “Strong Armenia” in Yerevan. Photo: Sputnik

The pro-European “Republic” party filed a statement regarding the disqualification of the political bloc. Its representatives cited criminal cases related to alleged voter bribery and concealment of property interests during the election campaign.

In turn, representatives of “Strong Armenia” rejected all accusations, calling them baseless. According to them, no proven violations of electoral law were presented.

After a two-hour review, the CEC unanimously rejected the demand to annul the bloc’s registration. The commission stated that the arguments presented by supporters of “Strong Armenia”‘s removal were based mainly on assumptions and did not provide sufficient grounds for such a decision.

Nevertheless, legal problems persist around “Strong Armenia” ahead of the elections. It is reported that six candidates from the bloc were arrested on charges of money laundering and other offenses. Furthermore, a criminal case was initiated against Narek Karapetyan, the leader of the election list, who is accused of concealing Russian citizenship.

Parliamentary elections in Armenia will take place on June 7. The main opponent of Prime Minister Nikol Pashinyan’s party is the “Strong Armenia” bloc, which advocates for closer ties with Russia and emphasizes the importance of economic and military cooperation between the two countries.

In recent years, Armenia has been actively developing relations with the European Union. In early 2025, the country’s authorities launched a process related to potential EU membership. However, the Armenian leadership still emphasizes that an official application for accession has not yet been submitted, and the question of a referendum on this topic is not yet on the agenda.

Against the backdrop of the election campaign, the European Commission previously expressed concern about possible attempts of external influence on political processes in Armenia. In turn, the leadership of the European Union declared its support for the country in its cooperation with European structures.

Armenia’s ‘Trump Route’ Widens The Fault Line Between Washington, Tehran, and

Scheer Post
June 6 2026

Vali Kaleji for The Craddle

On the eve of Armenia’s crucial parliamentary elections on 7 June, US Secretary of State Marco Rubio, during a brief visit to Yerevan on 26 May, signed three highly significant agreements in a meeting with Armenian Foreign Minister Ararat Mirzoyan.

These included the “Framework Agreement between the Republic of Armenia and the United States of America on Strategic Cooperation Concerning the Trump Route for International Peace and Prosperity (TRIPP),” the “Charter on Comprehensive Strategic Partnership between the Republic of Armenia and the United States,” and the “Republic of Armenia–United States of America Framework For Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths.”

Washington’s election-season endorsement

Rubio’s brief visit, which lasted only about an hour at Yerevan Airport, was a clear signal of US support for Nikol Pashinyan’s government ahead of Armenia’s pivotal parliamentary elections on 7 June. 

Over the past several years, Pashinyan’s administration has gradually distanced itself from the Russian Federation and Moscow-led regional institutions, including the Collective Security Treaty Organization (CSTO) and, more recently, the Eurasian Economic Union (EAEU), while seeking closer ties with the EU, NATO, and the US.

In this context, the US secretary of state, who traveled to Yerevan two weeks before the elections, expressed strong support for Pashinyan and his team, stating: “You (Ararat Mirzoyan), the prime minister, and your team are paving the way to a brighter, more independent future for Armenia.”

US President Donald Trump also wrote in a post on Truth Social: 

“Prime Minister Nikol Pashinyan, of Armenia, a great friend and Leader, is making his Country strong, wealthy, and very secure! Nikol completely shares my vision of PEACE and PROSPERITY for Armenia and the entire South Caucasus region…. Nikol has my COMPLETE and TOTAL Endorsement for Re-Election on June 7, 2026.”

Armenia also hosted the Eighth Summit of the European Political Community on 23 May, which constituted another indication of western support for Pashinyan’s government. 

Nevertheless, it remains unclear whether such support will ultimately translate into an electoral victory for Pashinyan’s Civil Contract Party over its nationalist and conservative opponents. A recent example is Hungary, where the visit of US Vice President J.D. Vance to Budapest and his participation in an election rally alongside Prime Minister Viktor Orban failed to prevent Orban’s defeat in the parliamentary elections after 16 years in power.

 The Trump Route takes shape

The three agreements signed during Rubio’s visit to Yerevan – particularly the TRIPP Agreement  – should be viewed as a continuation and complement to the peace agreement signed by Azerbaijani President Ilham Aliyev and Pashinyan at the White House on 8 August, 2025, under the mediation of Trump. 

Under that agreement, direct connectivity between Azerbaijan and its Nakhichevan Autonomous Republic through Armenian territory was endorsed not under Baku’s preferred designation of the “Zangezur Corridor,” nor under Yerevan’s preferred concept of the “Crossroads of Peace,” but rather under a new title: the “Trump Route for International Peace and Prosperity” (TRIPP), or simply the “Trump Route.” 

The TRIPP Agreement, consisting of 11 articles, sets out the legal and operational framework governing this transit route. Pursuant to Articles 1 through 4, a joint venture known as the TRIPP Development Company (TDC) is to be established. 

Under the agreement, 74 percent of the shares and controlling interest in the company will be held by US entities operating under the United States International Development Finance Corporation (DFC), while Armenia will retain a 26 percent ownership stake.

Furthermore, under Article 6, Armenia commits to granting the joint venture exclusive land-use and development rights along the designated TRIPP implementation areas for an initial period of 49 years. The agreement also provides for a possible extension of an additional 50 years by mutual consent, in which case Armenia’s ownership stake in the TDC would increase to 49 percent. 

Armenia has further undertaken to bear all financial costs associated with land acquisition and the removal of any encumbrances or third-party claims affecting the project areas. At the same time, the agreement explicitly affirms that the Republic of Armenia retains full sovereignty, territorial integrity, and legal and executive jurisdiction over all areas and projects associated with TRIPP within its sovereign territory.

The implementation of this agreement – much like the Armenia–Azerbaijan peace agreement and the ongoing process of Armenia–Turkiye normalization – will depend heavily on the re-election of Pashinyan’s Civil Contract Party in the 7 June parliamentary elections. Should Armenia’s nationalist and conservative political forces emerge victorious, the political terrain could change significantly.

Strongly critical of Pashinyan’s policies regarding Nagorno-Karabakh, these nationalist and conservative groups maintain hardline positions toward both Azerbaijan and Turkiye. They have traditionally enjoyed closer relations with Iran and Russia while maintaining a cautious and carefully calibrated distance from the west. 

Consequently, a change in government could have profound implications for the future of the Armenia–Azerbaijan peace process, Armenia–Turkiye normalization, and the implementation of TRIPP.

Tehran Sees More Than a Corridor

It was therefore hardly surprising that, amid Armenia’s highly polarized and politically charged atmosphere in the run-up to the crucial parliamentary elections, Rubio’s unexpected and brief visit to Yerevan was met with strong criticism from opposition forces. 

Opposition parties and political groups in Armenia argue that the large-scale “Trump Route” project is, in essence, the same transit corridor long sought by Azerbaijan under the name of the “Zangezur Corridor” and strongly supported by Ankara. 

Former Armenian President Robert Kocharyan, leader of the influential Armenia Alliance, expressed deep concern over the strategic implications of the agreement, stating: 

“I think that the ‘TRIPP’ project is a very strong propaganda move by the US, the aim of which is to create tension between Iran and Armenia, because after that, Tehran will definitely have distrust…This is also a ‘blow’ to Russia.”

 In Iran, Foreign Ministry spokesperson Hamid Baghaei also reacted to Rubio’s visit and the signing of the Trump Agreement, stating: 

“The Islamic Republic of Iran’s position regarding security in the South Caucasus is clear and leaves no room for ambiguity. Iran welcomes the expansion of economic exchanges and the reopening of transportation and transit routes. However, given the United States’ long record of hostile conduct and intervention in various regions of the world, Iran harbors serious suspicions regarding Washington’s intentions and has explicitly expressed its opposition to any such destabilizing presence in the region.” 

Although Iranian officials appear to have refrained from adopting a more explicit position at this stage – likely due to their understanding of Armenia’s sensitive electoral environment and a desire to avoid becoming directly involved in the country’s internal political rivalries – Iran, in strategic terms, sees little difference between the “Trump Route” and the “Zangezur Corridor” advocated by Azerbaijan and supported by Turkiye. 

From Tehran’s perspective, both initiatives pursue objectives that extend well beyond the establishment of a mere transportation and transit link between mainland Azerbaijan and Nakhchivan through Armenian territory adjacent to Iran’s border.

Iranian policymakers believe that such projects could generate a number of significant security and geopolitical challenges, including potential risks to the 40-kilometer Iran–Armenia border, the Norduz (Iran) and Meghri (Armenia) border crossings and customs facilities, as well as the bilateral trade and transit network through which more than 80,000 trucks pass annually. 

Moreover, there is little doubt that the implementation of the Trump Route, as part of the broader Middle Corridor and an emerging energy and transportation route linking Central Asia, the Caspian Sea, and the South Caucasus to Europe, would further accelerate Yerevan’s westward orientation. 

Such a development could have far-reaching consequences, including Armenia’s eventual withdrawal from the CSTO and the EAEU. The cumulative effect of these developments could be a more profound shift in the geopolitical balance of the South Caucasus to the detriment of both Iran and Russia – a process that, in many respects, began with the Second Nagorno-Karabakh War in 2020.

The 12-day US-Israeli war on Iran in June 2025 and the more recent 40-day war involving Israel and the US against Iran, from 28 February to 7 April 2026, have heightened Tehran’s sensitivity toward the Trump Route project and the prospective presence of US companies close to Iran’s northern border.

This concern is particularly pronounced given that, under the recently signed agreement, such a presence is not intended to be temporary. Rather, the arrangement envisages an initial concession period of 49 years, with the possibility of a further 50-year extension by mutual agreement, potentially resulting in a total duration of 99 years. 

From Iran’s perspective, this would amount not merely to a transportation or infrastructure project, but to the establishment of a long-term American economic and strategic footprint in a highly sensitive geopolitical area adjacent to its borders.

For this reason, Kocharyan stated during his election campaign:

“Today, the United States is in a state of confrontation with Iran. Under such circumstances, how can anyone reasonably believe that handing control over the sensitive Armenia–Iran border area to an American company is a rational decision? Do you truly consider such a step normal and acceptable? How is Tehran expected to perceive and tolerate such an arrangement? I urge the authorities in Yerevan to place themselves, even for a moment, in Iran’s position and to view this security challenge from Tehran’s perspective.”

Moscow raises the cost

Russia’s response toward Armenia, however, has been noticeably sharper – at least at the present stage. Only a few days after Rubio’s visit, Moscow recalled its ambassador from Yerevan for consultations, citing the increasingly pro-western policies of the Pashinyan government. 

In recent weeks, Russian officials have openly warned Armenia, particularly in connection with the possibility of its withdrawal from the EAEU, about potential consequences, including higher gas prices or the suspension of preferential energy arrangements, restrictions on imports of Armenian goods, limitations on the diamond and energy trade, and even a reassessment of certain areas of economic cooperation.

In essence, Moscow is concerned that its ongoing involvement in the war in Ukraine may encourage Armenia – the only South Caucasus state that remains a member of both the EAEU and the CSTO – to leave these Russian-led institutions. 

Given that neither Georgia nor Azerbaijan is a member of either organization, such a development would significantly diminish Russia’s economic, geopolitical, and military influence in the South Caucasus.

The implementation of the TRIPP Agreement and the construction of the Trump Route between Azerbaijan and Nakhichevan face substantial political obstacles and will depend heavily on the outcome of Armenia’s 7 June parliamentary elections. 

Should Armenia’s nationalist and conservative political forces prevail, the likelihood of the project being suspended or abandoned would be considerable.

Even if Pashinyan secures re-election, the implementation of the project is likely to provoke strong opposition from Iran and expose Armenia to potential retaliatory measures from Russia, particularly in the areas of natural gas exports and restrictions on Armenian imports.

Vali Kaleji is based in Tehran, Iran, holds a Ph.D. in Regional Studies, Central Asia and Caucasian Studies. He has published numerous analytical articles on Eurasian issues and Iran’ foreign policy for Oxford Analytica in the UK, Eurasia Daily Monitor of Jamestown Foundation, Institute of Central Asia and the Caucasus (American Foreign Policy Council), the National Interest and the Middle East Institute in the United States, TRENDS Research & Advisory in the UAE, Middle East Council on Global Affairs in Doha, Qatar, and also Nikkei Asia.

Armenia’s elections: What 7 June really decides

European Interest
June 6 2026
Armenia’s elections: What 7 June really decides

Tomorrow, Armenians will elect their next parliament. The vote arrives at one of the most consequential moments in the country’s post-independence history. Not because it is unprecedented in its drama, but because the stakes behind it are unusually concrete: an unsigned peace treaty, a constitutional referendum in the making, a shattered community of displaced persons looking for political voice, and a regional order still adjusting to the shockwaves of 2023. To read 7 June simply as a referendum on Nikol Pashinyan would be to miss the real architecture of what is being decided.

Two events above all have reshaped the country’s political landscape in the past few years: in September 2023, Azerbaijan launched a 24-hour operation that ended the de facto existence of Nagorno Karabakh as an Armenian space. Virtually the entire population fled to Armenia within days. Then, in August 2025, Armenian and Azerbaijani leaders gathered at the White House and, in Donald Trump‘s presence, initialled a peace framework based on the draft peace deal they both agreed to a few months earlier. They did not sign it. The distinction is crucial. One obstacle remains between the initialled text and a binding treaty: Azerbaijan refuses to append its formal signature until Armenia amends its constitution, which contains a vestigial reference to the 1990 Declaration of Independence — language Baku reads as an indirect territorial claim to Nagorno Karabakh. As Aliyev said flatly at the Munich Security Conference in February: “Once the amendment to Armenia’s constitution is made, we can sign the peace agreement the very next day.” Pashinyan has promised a constitutional referendum, likely in 2027. 7 June is the political precondition.

A turbulent race

The electoral landscape presents a paradox: a weakened frontrunner facing a fragmented opposition too divided to capitalise on his weakness.

Opinion polls do not look good for Pashinyan’s Civil Contract party. Roughly 32% of respondents intend to vote for the party, rising to around 38% among likely voters. This is a steep decline from the commanding majorities of 2018 and 2021, and a figure that reflects deep public dissatisfaction. The Civil Contract party failed to secure a governing majority in the March 2025 municipal elections in Gyumri, Armenia’s second city — an early warning of eroding support. The Washington peace agreement, which should be Civil Contract’s signature achievement, remains divisive: polling shows public opinion almost evenly split, with 44% in support and 41% opposed.

The economy has grown under Pashinyan, but residents of Yerevan continue to struggle with rising inflation and a severe real estate crisis, both worsened by the large influx of Russian and Ukrainian nationals since 2022. Nevertheless, the 2021 election results serve as a reminder that polling data can miss the mark entirely.

In any case, Pashinyan remains the frontrunner. The reason is the state of the opposition.

Nineteen parties and alliances are registered. Three main opposition forces are worth examining. The first is the Armenia alliance, led by former president Robert Kocharyan, the dominant parliamentary opposition since 2021. Kocharyan campaigns on restoring ties with Russia, renegotiating the peace terms, and challenging what he calls Pashinyan’s capitulations. Kocharyan’s problem is that many Armenians still associate his presidency (1998–2008) with corruption, oligarchic patronage, and the violent suppression of post-election protests in 2008. His brand of nationalism energises a core but repels the median voter.

The second is the Prosperous Armenia party of wealthy businessman Gagik Tsarukyan, a pro-Russian force with deep patronage networks, whose politics are more transactional than ideological.

The third, and most dynamic new entrant, is Strong Armenia. Its backer is Samvel Karapetyan, a Russian-Armenian billionaire. Karapetyan entered politics in mid-2025 after being detained on charges related to alleged attempts to destabilise the government, charges the opposition calls politically motivated. He was nominated as Strong Armenia’s prime ministerial candidate in early 2026 but was subsequently ruled ineligible: Armenia’s constitution bars dual citizens from parliamentary office, and Karapetyan holds Russian and Cypriot passports alongside his Armenian one. The Parliament then amended the electoral code in ways that further restricted Strong Armenia’s ability to campaign, and in late May, Karapetyan’s nephew and leading party candidate faced a new investigation on unspecified charges. Opponents see a systematic effort to neutralise the one opposition figure with the resources to mount a serious challenge. Government supporters see confirmation of oligarchic interference backed by Moscow.

Despite this fractured opposition, the decisive question for Civil Contract is not whether it wins but by how much. Armenia’s constitution contains a “stable majority” clause: if no party secures an absolute majority, the system triggers bonus mechanisms to give the leading force more than 54% of parliamentary seats. The deeper issue is whether Civil Contract can obtain the political capital — and potentially a supermajority — to drive through the constitutional referendum that the peace process requires. That threshold may prove elusive even in victory.

A polarised society

Armenian society is polarised not merely along the axis of government versus opposition, but along two deeper fissures that the campaign has exposed with unusual brutality.

The first is the question of the Karabakh Armenians. Some 100,000 displaced persons now live in Armenia, stateless in all but name, their citizenship applications largely unprocessed. Many have gravitated towards Strong Armenia, drawn by Karapetyan’s social welfare promises and his outreach. The government’s treatment of this community has become a flashpoint.

In a now-infamous incident in March 2026, a video circulated showing Pashinyan on the Yerevan metro berating a displaced woman — the daughter of a fallen soldier — offering her son a badge bearing a map of Armenia without Artsakh, and declaring that those who fled should not claim he surrendered Karabakh. In a separate campaign episode, he asked a Karabakh Armenian refugee why he was still alive, implying he should have stayed and died defending the enclave.

The reactions were immediate and furious. Critics accused the prime minister of using hate speech against people who had already lost everything. Government supporters argued that the opposition was cynically weaponising displaced persons to block a peace that Armenia cannot afford to refuse.

This fault line is not political in the conventional sense. It cuts through families, communities, and the diaspora. It asks what obligations a state owes to those displaced in its name, and whether accepting peace means accepting amnesia.

The second fissure concerns the Armenian Apostolic Church. The confrontation between Pashinyan and Catholicos Karekin II has been simmering since 2020, when the Church called on the prime minister to resign over the Karabakh defeat. Pashinyan accuses the Church of functioning as a pro-Russian political actor and has alleged that Church figures participated in coup-plotting. The Church, for its part, represents a vision of Armenia as a civilisational and historical nation, with deep attachments to its territorial and cultural memory. For many conservative Armenians, Pashinyan’s “Fourth Republic” agenda looks less like modernisation than like an ideological assault on the foundations of national identity. The ongoing constitutional confrontation is part of this broader cultural war.

Russia, interference, and the stakes for Moscow

No outside power has more to lose from a Pashinyan victory than Russia. Armenia’s foreign policy reorientation since 2020 has been sweeping: Yerevan has frozen its participation in the Russian-led Collective Security Treaty Organisation (CSTO), declared its aspiration to join the European Union, hosted an EU civilian monitoring mission along its borders, and deepened engagement with the United States. Even Secretary of State Marco Rubio has stated publicly that Russia wants Pashinyan to lose.

Moscow’s response has combined pressure with interference. In late May 2026, Russia’s consumer protection agency temporarily suspended imports of Jermuk mineral water — a significant Armenian export. Days later, its agricultural authority restricted Armenian flower imports to Russia. These moves, perfectly timed for the electoral campaign, recalled the economic pressure Russia applied to Moldova and Georgia when those countries pursued European integration. Analysts have documented FIMI (foreign information manipulation and interference) campaigns targeting Armenian social media, employing coordinated inauthentic behaviour and disinformation narratives familiar from earlier Russian operations in the post-Soviet space.

The most dramatic dimension of Russian interference concerns voters, not messages. Between 1st and 17 May, some 10,000 more Armenian citizens entered Armenia from Russia than during the same period the previous year. Western intelligence sources alleged that Moscow intended to bus up to 100,000 Russian-resident Armenian citizens into the country to vote against Pashinyan — though observers noted the figure appeared inflated and that those arriving did not necessarily back the pro-Russian opposition. Armenian military police reportedly began handing out draft summonses to young men arriving from Russia at Yerevan’s airport, a development that added a sharp edge to an already tense atmosphere.

The diaspora’s role cuts both ways. Armenians in the traditional diaspora, particularly in France and the United States — most of whom maintain ties to the Armenian Revolutionary Federation (ARF) — largely oppose Pashinyan and have consistently accused his government of abandoning Nagorno Karabakh, capitulating to Azerbaijan, and sidelining Genocide recognition. But the “Russian diaspora” Armenians represent a different constituency, and the interaction between these communities and domestic Armenian politics has introduced new variables into an already volatile mix.

Elections and foreign policy

Armenia’s diplomatic reorientation represents the most consequential shift in the country’s strategic posture since independence. Yerevan has received substantial EU financial and political support, expanded its diplomatic network to include new bilateral agreements with the United States and China, established relations with Saudi Arabia, and secured recognition from Pakistan. The government has simultaneously sought to preserve trade with Russia and maintain ties with Iran — a multi-vector approach born of necessity as much as strategy.

The peace process with Turkey remains contingent on the unresolved Armenia-Azerbaijan treaty. Progress has been made: the two sides communicate, and there is an implicit understanding that normalisation follows finalisation. But the Turkish border remains closed, and the broader regional connectivity project — the so-called TRIPP (Trump Route for International Peace and Prosperity) envisaged in the Washington framework — depends on a signed peace that Baku continues to hold hostage to Armenia’s constitutional calendar.

What the results will actually determine

A Civil Contract victory would consolidate the current diplomatic trajectory: a push for EU integration, a reduction of Russian dependence, and an attempt to ratify the peace framework through a constitutional referendum. But the quality of the victory matters as much as the fact of it. A thin majority, dependent on bonus-seat mechanisms, would leave Pashinyan without sufficient political capital to secure constitutional change through a referendum requiring broad popular legitimacy. A strong mandate — approaching the level of 2021 — would provide the authority to pursue the Fourth Republic agenda with some prospect of success.

An opposition victory, or a result so fragmented that Civil Contract cannot govern effectively, would open a period of genuine uncertainty. The peace process would stall; Baku’s preconditions would go unmet; and the question of whether the Washington text can survive a change of government in Yerevan would become urgent. Moscow would interpret such a result as a strategic reversal in a theatre where it has watched its influence erode steadily since 2020.

Nearly a third of voters remain undecided or silent as polls close. Their choice will determine not just who governs Armenia for the next five years, but whether a peace initiated in Washington and painfully negotiated over years of military defeat and mass displacement can become permanent — and at what cost to the memory and identity of a nation that has rarely had the luxury of an easy choice.

Author profile: George Meneshian
George Meneshian is an Area Studies analyst specialising on the Caucasus and MENA regions. He is the head of the Middle East Research Group at the Institute of International Relations (IDIS, Athens).

As Armenia heads to the polls, Russia warns against electing ‘pro-European for

CBC, Canada
June 6 2026

Current leader wants to join EU, while his 2 primary challengers have close ties to Russia

Thousands of people gathered in Armenia’s capital this week to decry the alleged traitorous path plotted by their current government, waving flags and warning that a vote to re-elect would mean “living here with Azerbaijanis” — the country’s longtime rival, with whom the present administration has reached a tenuous peace.

But a larger shadow looms over the upcoming vote: a historic break in the country’s relations with Russia. 

As such, when Armenians head to the polls on Sunday, it will be for one of the most important elections taking place in Europe this year.

The vote pits incumbent Prime Minister Nikol Pashinyan, in power since 2018, against an array of challengers from which two primary opponents have emerged. Both of them — former president Robert Kocharyan and Russian-Armenian billionaire Samvel Karapetyan, whose Strong Armenia party held the rally in Yerevan this week— are closely aligned with Russia. 

Kocharyan, who ruled from 1998 to 2008, sits on the board of directors of a major Russian financial corporation, while Karapetyan made his $4-billion US fortune in Russia, where he lived from the 1990s until recently.

While Pashinyan is expected to be re-elected, the election has taken on outsized geopolitical importance. 

The fracturing of Russian-Armenian relations

Pashinyan has pushed Armenia strongly westwards in recent years, signing deals with the U.S., making official aspirations to join the European Union and hosting a European Political Community summit last month. (The group was formed in the wake of Russia’s invasion of Ukraine.)

Russia — the country’s traditional patron — appears to have had enough. 

On May 29, Vladimir Putin threatened the country with suspension from the Eurasian Economic Union, which would result in a massive hike in gas prices. Moscow has likewise blocked the import of a wide variety of Armenian goods, while reportedly activating disinformation networks aimed at unseating Pashinyan. 

On Thursday, Russia’s deputy prime minister stated that “if pro-European forces win [the election],” Russia would be forced to “take necessary measures.” He did not specify what those might be.

The Kremlin is also reportedly planning to dispatch some 100,000 Armenians living in Russia to vote against the prime minister. Armenian authorities have responded by handing out leaflets at the country’s airports and border crossings, informing arrivals that accepting money in exchange for a vote is punishable by prison time.

The fracture in Russian-Armenian relations has not been sudden, experts say, but rather the result of a years-long growing divide.

“Armenian-Russian relations have been in crisis for a long time, reflecting the fact that this is a relationship whose fundamentals are changing,” said Laurence Broers, an associate fellow with Chatham House’s Russia and Eurasia program, in written comments to CBC News. 

“The main pillar of the old relationship, the ‘rescue fantasy’ that Armenia’s loyalty earns Russian security guarantees, has collapsed, and Moscow has lost its principal source of leverage over Armenia in the unresolved Karabakh conflict,” he wrote.

Nagorno-Karabakh region at heart of conflict

For more than three decades, Armenia and Azerbaijan were engaged in conflict over the Nagorno-Karabakh region, which lies within Azerbaijan’s borders but is dominated by ethnic Armenians.

A 1991-1994 war saw Armenian forces emerge victorious — a status quo that endured until Azerbaijan launched a second war in 2020, securing three-quarters of the territory before conquering the rest in 2023.

That entire time, Russia has been Armenia’s primary security partner. However, Armenia’s faith in Moscow’s willingness, or ability, to aid it against external threats was fatally shaken by a 2022 Azerbaijani offensive into Armenia itself, which saw Azerbaijani troops occupy territory in southern Armenia during two days of fighting. 

Armenia appealed to the Collective Security Treaty Organization (CSTO), a Russian-led analogue to NATO, invoking Article 4, which obliges Russia and other members to provide military aid to restore the country’s territorial integrity.

Moscow declined, offering only to send an “observation mission.” And less than a year later, Russian peacekeepers stood aside as Azerbaijan conquered the remainder of Nagorno-Karabakh, sending over 100,000 refugees into Armenia.

Since then, Yerevan — under Pashinyan’s leadership — has veered sharply away from Moscow, ordering the withdrawal of Russian border guards from parts of the country and effectively freezing its participation in the CSTO.

WATCH | Ethnic Armenians mourn life left behind:

Nagorno-Karabakh evacuees paint sombre picture of lives left behind

September 29, 2023|

Duration2:17

Ethnic Armenians fleeing Nagorno-Karabakh — 90,000 of them and counting — just keep coming. They mourn the lives they left behind, traumatized by the conflict they’re fleeing in the contested region that is internationally recognized as part of Azerbaijan.

What will Russia and Armenia’s ‘new normal’ look like?

Russia has responded by backing Karapetyan in his bid to unseat Pashinyan, so far with limited success. Recent polling shows Pashinyan’s party in the lead with 32 per cent of prospective voters, compared to just six per cent for Karapetyan, albeit with 23 per cent still undecided and 21 per cent declining to say.

Opposition forces have struggled to attract new supporters since the last election in 2021, where Pashinyan defeated his leading challenger by a whopping 33 per cent. 

“The opposition is failing to mobilize groups of voters of significant size outside of its established base over the past five years,” said Narek Sukiasyan, a political scientist at Yerevan State University. 

“There is a certain overlap between Kocharyan’s and Karapetyan’s supporters, but the chances of either unseating the ruling party are quite low.”

Russia’s influence in the South Caucasus writ large has unraveled in recent years. While Moscow once dominated the region through political, economic and military levers, now only Georgia remains in its orbit. That’s underlined by the recent visit of Ukrainian President Volodymyr Zelenskyy to both Armenia and Azerbaijan — an event that felt unthinkable just a few years ago.

While Russia and Armenia will retain some economic and political ties regardless of Sunday’s vote, the Kremlin is likely to be one of many players — a list that now includes the U.S., EU, Iran and Turkey — in the region going forward. It’s a state of affairs not seen since before the Russian Empire conquered the region in the early 1800s.

“The permanent damage is in the long-term temporality of Armenian-Russian relations: Russia’s hollowed-out hegemony, its declining power and the growing influence and power of numerous other actors in the South Caucasus,” Broers wrote. 

“I suspect Moscow and Yerevan may seek to find a ‘new normal’ after these elections, but this certainly won’t be the last crisis between them.”

Armenia prepares for vote amid shifting relations with Russia and the West

France 24
June 6 2026

Armenia prepares for vote amid shifting relations with Russia and the West

ASIA / PACIFIC

Armenia’s parliamentary elections Sunday will be a vote on its geopolitical future as incumbent Prime Minister Nikol Pashinyan seeks closer relations with the European Union and the United States despite longstanding ties with Russia that have been championed by his critics. FRANCE 24’s Olivia Bizot reports.

At a crossroads: Armenia’s Sunday election to test East-West balance

TVP World
June 6 2026

At a crossroads: Armenia’s Sunday election to test East-West balance

Sion Pennar

Armenia goes to the polls on Sunday, with Russia and the West’s geopolitical tug-of-war bringing global attention to the small landlocked state in the South Caucasus.

A part of the Soviet Union for most of the 20th century, the 3-million-strong country has maintained close political and economic ties with Moscow since independence in 1991 but its government is now expanding cooperation with the EU and the US. 

The shift has been driven in part by the loss of the disputed Nagorno-Karabakh region to Azerbaijan in a seismic military defeat that occurred on the watch of Russian peacekeepers stationed in the sensitive territory. 

Nikol Pashinyan, the centrist prime minister who came to power on the back of protests in 2018, has tried to move Armenia closer to Europe while also keeping Russia on side, given Yerevan’s dependence on Russian trade and energy supplies. 

The difficulty of mastering such a balancing act has been on show in recent weeks. 

In the run-up to the parliamentary election, in which Pashinyan and his party face a fragmented, broadly pro-Russian opposition, the Kremlin has exerted pressure by banning the import of key Armenian goods and ominously warning of a future “Ukraine scenario.” 

The EU – whose leaders flocked to Yerevan, Armenia’s capital, for major summits last month – responded by announcing a €50 million support package, including the easing of some trade restrictions.  

It’s not all about geopolitics, however: Armenians are also being asked to decide in this election how they see their country after the traumatic conclusion of the decades-long Nagorno-Karabakh conflict. 

The frontrunner: Nikol Pashinyan

Polling suggests that Pashinyan’s reformist Civil Contract party will come first in the June 7 election – but the question is by how much. 

His campaign has focused on moving forward from the painful Nagorno-Karabakh defeat, which led to the displacement of 100,000 Armenians from the territory, by accepting the country’s present borders. 

This could lead to the normalization of relations with neighbors such as Turkey, a regional powerhouse, which is seen as key to unlocking Armenia’s economic potential – but it depends on the so far unratified peace deal with Azerbaijan being finalized. 

To do so, Armenia must amend its constitution to drop claims to the disputed region – something that’s unlikely to happen if Civil Contract fails to keep its current constitutional majority in parliament. 

Then, there is Pashinyan’s Russia balancing act.

From playing drums alongside a crooning Emmanuel Macron to friendly handshakes with Volodymyr Zelenskyy, the Armenian PM has shown his pro-EU face to the world over the next few months, while also meeting Vladimir Putin. 

He has sought to reduce Armenia’s dependence on Moscow, but is not turning his back on the Kremlin. 

Pashinyan has vowed to keep his country in the Russian-dominated Eurasian Economic Union (EAEU), while continuing its de facto exile from the military-minded Collective Security Treaty Organization (CSTO). 

He would try to keep walking the Russia-EU tightrope, if he returns to power. It is a “pragmatic” position that, in practice, eschews lofty goals such as EU candidacy, an expert told TVP World’s Eastern Express this week. 

“Armenia is much more pragmatic and is deepening relations with the West and the EU, [but] well short of membership,” Richard Grigosian from the Regional Studies Center said. “Armenia is also prudently pursuing a passive aggressive transactional strategy with Russia and not unnecessarily overprovoking Moscow.” 

The Armenian-Russian billionaire: Samvel Karapetyan 

Worth an estimated $4.1 billion, tycoon Samvel Karapetyan is Pashinyan’s strongest rival – even though he is under house arrest. 

The Armenian-Russian dual citizen was charged last year with calling for the government’s overthrow, as well as money laundering, as entered politics to speak out for the Armenian Apostolic Church in its clash with Pashinyan. 

His Strong Armenia party is running at the head of a coalition that has vowed to stop the country from becoming an “arena of geopolitical confrontation.” This would mean restoring friendly ties with Russia, including renewing full participation in the CSTO. 

Strong Armenia is vehemently opposed to Pashinyan’s push for a peace deal with Azerbaijan in its current form, and has stoked nationalist narratives by accusing the prime minister of wanting to let 300,000 Azerbaijanis settle in Armenia.  

“The opposition landscape is fragmented, but energetic,” TVP World’s political editor Stuart Dowell says. “Strong Armenia speaks to voters who want stronger business leadership, warmer ties with Russia and resistance to Pashinyan’s peace policy.”  

A poll in late May by the International Republican Institute (IRI) put Karapetyan’s party in second place at 6%, far behind Civic Contract on 32%. However, 23% of those polled said they were undecided, with 21% refusing to disclose their preference. 

The other pro-Russians 

Pashinyan has characterized his main opponents as a “three-headed war party,” throwing Strong Armenia into the same category as two others: former president Robert Kocharyan’s Armenia Alliance and eccentric tycoon Gagik Tsarukyan’s Prosperous Armenia. 

Both see Russia as Armenia’s key ally and are opposed to European integration. Kocharyan’s party is currently the main opposition and has called for a different peace deal with Azerbaijan, involving China, Russia and the US, while floating the prospect of Armenia having a Belarus-style union with Moscow. 

Tsarukyan – best known globally for funding a record-breaking 77-meter statue of Jesus Christ – has longstanding business ties to Russia. On May 21, Andranik Tevanyan, the leader of another party in his electoral coalition, was arrested and charged by the Armenian authorities with spying for Moscow. 

What will happen? Around 2.5 million Armenian citizens are eligible to vote in Sunday’s poll, which is held under a proportional representation system with different electoral thresholds for parties and coalitions. 

A minimum of 101 members will be elected to the single-chamber parliament, with the actual number of seats dependent on the results. The last election, held in 2021, resulted in 107 MPs – with Pashinyan’s party ensuring a constitutional majority with 71 seats.  

Whether that happens this time remains to be seen. 

According to Stefania Kolarz and Wojciech Wojtasiewicz from the Polish Institute for International Affairs, the most likely scenario is a win for Pashinyan, but short of the two-thirds needed to change the constitution. 

“This offers the prospect of maintaining the current foreign policy course, though without the ratification of the peace treaty with Azerbaijan,” the experts write, adding that a bigger-scale win would be Western powers’ preferred outcome. 

While Russia may wish to see the back of the current PM, it is not putting its weight too heavily behind the other contenders, think tanker Richard Grigosian told TVP World, arguing that Russian interference has been limited. 

“I’m not worried, simply because is not a close election. The opposition, which is divided [… with] single digit support in most cases, does not really have the potential for securing Russian support to upset the election,” he said. 

“The incumbent government’s real advantage here – beyond incumbency – is actually the advantage of having no credible alternative or rival.”


Armenia prepares for an election that could reshape ties with Moscow and the W

Associated Press
June 6 2026

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Armenia’s parliamentary elections Sunday will be a vote on its geopolitical future as incumbent Prime Minister Nikol Pashinyan seeks closer relations with the European Union and the United States despite longstanding ties with Russia that have been championed by his critics.

Many analysts favor Pashinyan’s Civil Contract party to retain control of parliament, but with many opposition parties running on pro-Russia platforms, the Caucasus nation’s place on the international stage has been thrown into the spotlight.

In the months ahead of the election, Russian President Vladimir Putin and other Russian officials have warned Armenia that joining the EU could come at the expense of massive economic damage by disrupting Armenian trade ties with Moscow and its allies.

“These are the first elections in Armenia’s history where geopolitical orientation has become a decisive issue,” Mikayel Zolyan, an analyst and former member of the Armenian Parliament, told The Associated Press from Yerevan. “Until now, Armenia has remained within Russia’s sphere of influence, and this was taken for granted, but now, for the first time, this is being called into question.”

Armenians disappointed with Moscow over Karabakh

Relations between Moscow and Armenia soured in 2023 after Azerbaijan took control of the Karabakh region. The mountainous area had been controlled for decades by ethnic Armenian forces backed by Armenia, part of a long conflict between the neighboring countries.

Armenian authorities accused Russian peacekeepers deployed to the region of failing to stop Azerbaijan’s onslaught. Moscow, busy with the conflict in Ukraine, has rejected the accusations, arguing its troops didn’t have a mandate to intervene.

“It turned out that Russia’s image as a guarantor of Armenian security was not based in reality, and it all collapsed after the Karabakh war,” said Alexander Iskandaryan, director of the Caucasus Institute in Yerevan.

Pashinyan has begun cautiously weakening ties with Moscow, joining the International Criminal Court in 2023 and suspending its participation in the Moscow-dominated Collective Security Treaty Organization in 2024.

Armenia also officially declared its aspirations to join the EU and hosted the European Political Community summit in Yerevan in early May.

A convincing win in the parliamentary vote would give Pashinyan a mandate to continue the trend and finalize a deal with Azerbaijan.

Western ties could bring benefits

Western nations have sought to show some of the advantages that closer ties could bring.

In August, U.S. President Donald Trump hosted Pashinyan and Azerbaijan’s President Ilham Aliyev to sign an agreement declaring an end to their decades-long hostilities and including provisions for the creation of a new transit corridor between Azerbaijan to its exclave of Nakhchivan. An agreement in February could pave the way for a U.S. company to build a new nuclear reactor in Armenia.

European Commission President Ursula von der Leyen also has said that Europe is ready to invest in Armenia’s energy industry and its “booming digital scene.”

Trump has endorsed Pashinyan and called him a “great friend” and a leader who is making his country “strong, wealthy, and very secure!”

Opposition parties back Moscow ties

Much of Armenia’s opposition is still dominated by pro-Russia groups and many are also against normalizing relations with Azerbaijan. Key opposition figures have called for Pashinyan to stand down over the loss of Karabakh.

Nineteen political forces, including two blocs and 17 parties, are taking part in the elections.

Pashinyan’s main rival is the Strong Armenia Party, which wants closer business ties with Russia and accuses Pashinyan of attempting to spark a war with Moscow. The party is led by Armenian-Russian billionaire Samvel Karapetyan, who is on trial for calling for the overthrow of Armenia’s government. He denies the charges.

Armenian investigators said Saturday they issued six arrest warrants for members of the opposition Strong Armenia party, accusing them of buying votes.

It came just hours after Armenia’s Central Election Committee confirmed that the Strong Armenia Party could run in the elections, after a member of another opposition party, Republic, appealed for them to be barred, citing allegations of corruption.

Other potential contenders include former President Robert Kocharyan, who leads the Hayastan bloc and has accused Pashinyan of “seriously undermining” relations with Russia.

Russia applies economic pressure

Russia, which has a military base in Armenia, has warned that Yerevan’s Western turn could have dire political and economic consequences.

Putin has compared Armenia’s course to that of Ukraine in thinly veiled threats and has suggested Russia’s conflict with Ukraine started with its attempts to join the EU.

In recent weeks, Russian has introduced new restrictions on Armenian produce after citing sanitation violations, banning Armenian flowers, certain types of cognac and wine, eggplants, potatoes, dried fruits, fish and more.

Armenia’s membership in the Eurasian Economic Union, a Russian-led customs union, was placed under formal review during a members’ meeting in Kazakhstan in May, with threats to suspend it completely it by December.

During the Kazakhstan summit, the governments of Russia, Belarus, Kazakhstan and Kyrgyzstan also demanded Armenia hold a referendum on whether it would remain in their group or seek EU membership. Pashinyan has rejected the need for such a vote.

Armenian government statistics show 38% of Armenia’s exports went to countries within the Eurasian Economic Union in 2025, the vast majority heading to Russia. In comparison, just 8% of trade went to the EU.

The Russian measures prompted von der Leyen to announce Thursday that the 27-nation bloc would send 50 million euros ($58 million) to support Armenia. In a statement, she said Russia is “weaponizing” economic relations and its ban on imports was “nothing short of economic coercion.”

Facing an uncertain future

Russia could exert further pressure on Armenia because it controls a significant portion of the country’s energy and infrastructure and supplies cheap gas.

“It’s completely unrealistic to say that Armenia can somehow overcome Russian influence in a short period of time,” analyst Zolyan said.

Armenia’s civil society also is concerned by what they have described as Russian-backed disinformation campaigns ahead of the vote. Moscow denies any interference.

Daniel Ionnisyan, head of the Union of Informed Citizens, an independent election watchdog, told the AP that his organization has documented instances of Russian interference through social media campaigns, cyberattacks, vote buying and bribery of journalists.

That echoes findings of a delegation from the Parliamentary Assembly of the Council of Europe, which visited Yerevan in May and said foreign interference included illicit political financing, cyberattacks, economic coercion and direct attempts to manipulate the electoral process.

“These hybrid tactics aim not only to sway public opinion but to secure long-term geopolitical leverage over Armenia,” the delegation said.

___

Associated Press writer Sam McNeil in Brussels contributed to this report.




Parliamentary Election Tests Armenia’s Strategic Pivot From Moscow Toward EU

Kyiv Post
June 6 2026

Armenia is entering a decisive phase ahead of its parliamentary elections this Sunday, which will serve as a referendum on the country’s shifting geopolitical trajectory and its gradual pivot away from Russia toward the European Union. Incumbent Prime Minister Nikol Pashinyan leads the polls with approximately 32% of the vote, seeking a majority to implement constitutional reforms, finalize a peace treaty with Azerbaijan, and normalize ties with Turkey.

With parliamentary elections this Sunday, Armenia is entering a decisive phase that could shift its geopolitical trajectory, ease conflict and help soothe relations with regional neighbours.

In the streets of Yerevan, campaign posters from 18 parties and alliances compete for visibility. Those of incumbent Prime Minister Nikol Pashinyan, depicted forming a heart with his hands, are among the most prominent in the capital.

In office since 2018, Pashinyan is currently leading in the polls with about 32% of the vote.

This election will test whether he can secure a parliamentary majority strong enough to implement constitutional reforms, including concluding a peace agreement with Azerbaijan and normalising relations with Turkey, while continuing a gradual rapprochement with the EU.

This strategic shift has coincided with a gradual distancing from Russia, Armenia’s long-standing security partner, even as the country remains heavily dependent on Moscow in economic and energy terms.

“These are not elections simply dividing pro-Russian and pro-Western forces,” says Richard Giragossian, director of the Regional Studies Center in Yerevan. “But both Moscow and Brussels are closely monitoring the outcome.”

A fragile post-Karabakh realignment

Since Azerbaijan’s military takeover of Nagorno-Karabakh in 2023 and the displacement of more than 100,000 ethnic Armenians from the disputed territory, relations between Yerevan and Moscow have deteriorated significantly.

Pashinyan accused Russia of failing to provide adequate security guarantees during the offensive, while Armenia has accelerated its diplomatic engagement with the EU alongside emerging peace talks with Azerbaijan.

In 2025, Armenia’s parliament adopted legislation expressing the country’s intention to pursue EU membership. The successive organisation of an EU–Armenia summit and a European Political Community meeting in Yerevan in early May was also interpreted in Brussels as a signal of political alignment.

EU Ambassador to Armenia Vassilis Maragos noted that Brussels strongly supports Armenia’s efforts to normalise regional relations in the Caucasus, particularly with last month’s “connectivity” agreement to boost investment in digital infrastructure, semiconductor manufacturing and innovation.

“The connectivity partnership focuses on new projects in the context of peace and normalisation in the region, as well as border opening,” Maragos told Euractiv. “We have already identified three new border crossing points that we will support.”

Turkey-Armenia relations remain fragile

The electoral outcome is critical for Armenia’s regional diplomacy.

Benyamin Poghossian, an analyst in Armenia, warned that if Pashinyan fails to secure a majority in parliament the election result could “undermine not only the normalisation process with Azerbaijan, but also the one with Türkiye”.

Despite the absence of diplomatic relations since 1990, Armenia and Turkey have recently increased their engagement, including steps toward reopening borders, restoring historical infrastructure such as the Ani Bridge, and exploring the revival of the Kars-Gyumri railway line.

In Margara, near the Turkish border and within sight of Mount Ararat, expectations are cautiously rising among the village of 1400 inhabitants, where only the region’s famous white storks, known in Armenia as aragil, can travel on their seasonal migrations from one country to another for now.

“It’s time. Today, Armenian goods have to go through Georgia to reach Türkiye. Opening the border would simplify everything,” said Grigori Voskanyan, a taxi driver operating between Margara and Yerevan, near a border crossing recently renovated with European support.

EU steps up engagement as Russia increases pressure

From Russia’s standpoint, Armenia’s gradual drift away from Moscow’s traditional role as “Caucasus gatekeeper” is increasingly sensitive, particularly as Yerevan deepens its engagement with Brussels.

On Saturday, Russia recalled its ambassador in Yerevan for consultations over Armenia’s growing ties with the EU. At the same time, Moscow has intensified economic pressure through new restrictions on Armenian exports, including agricultural products, flowers and mineral water.

Russian authorities cite sanitary and technical concerns, but the measures are widely viewed in Yerevan and Brussels as politically motivated.

Ursula von der Leyen, the European Commission president, described the restrictions as “unacceptable economic coercion” and officials are exploring measures to support Armenian exporters and diversify trade routes.

EU officials say the bloc is also stepping up support for regional connectivity and border infrastructure projects.

A delicate balancing act for Yerevan

Despite rising tensions, analysts argue that a complete rupture with Russia remains unlikely in the short term.

Poghossian noted that Moscow maintains a strategic presence in Armenia, notably through the deployment of border guards along the Armenian-Iranian border. That region is where the “Trump Initiative for Peace and Prosperity”, a US-supported regional road project connecting Armenia and Azerbaijan in southern Armenia, is expected to be implemented. It plays a central role in the ongoing peace negotiations with Baku.

“Theoretically, Russia could block this project,” Poghossian said.

“Russia has many tools at its disposal,” he added, pointing to potential leverage including energy pricing, transport links and financial transfers.

Given this leverage, some members of Armenia’s opposition have criticised Pashinyan for weakening traditional ties with Russia. Nevertheless, analysts argue that the government’s approach remains largely pragmatic.

“The current government understands that EU membership remains a distant prospect,” said Giragossian. “Its main objective is to adapt the country to the new reality following the loss of Nagorno-Karabakh in 2023.”

Domestic tensions over foreign policy direction

Pashinyan’s main opponent, businessman Samvel Karapetyan (who is currently polling at 12.5%) and his “Strong Armenia” party, is capitalising on public discontent over the Karabakh conflict and fears of Russia’s negative impact on the country and its economy.

During a rally in Republic Square in Yerevan on 3 June, hundreds of his supporters gathered, including displaced families from across Armenia. Karapetyan, who is currently under investigation for money laundering and is suspected of acting on behalf of Russian interests, had to communicate with his supporters via a pre-recorded video message.

“We want to stay close to Russia, not the European Union,” said supporter Danik Avetisyan at the rally. “Listen, no one did anything when 100,000 Armenians in Karabakh were attacked by Azerbaijan.”

Still, as the vote approaches, the election is increasingly seen less as a binary choice between East and West, and more as a referendum on how the country manages its geopolitical constraints in a rapidly changing regional order.

See the original of this report by Emma Collet here.

Armenia Launches Direct Rail Service — Yerevan-Tbilisi-Batumi

June 6 2026

Armenia’s “South Caucasus Railway” is launching a new international route that also directly affects Georgia. Starting June 14, a train will begin operating on the Yerevan-Tbilisi-Batumi route and back to Yerevan.

Direct rail services to both the capital of Armenia and the Georgian city of Batumi will be operated by the “Armenia” train. According to the South Caucasus Railway company, these are modern carriages designed for long-distance travel and enhanced comfort.

The train will run every other day, and the current schedule will remain in effect until October 1.

Tickets can be purchased at railway station ticket offices in Armenia and Georgia, as well as online. The company noted that a new online ticket sales system has been introduced—while it is currently operating in test mode, it is already available for purchasing tickets for the “Armenia” train.

EBRD, EU and ArmSwissBank support refugees and youth in Armenia

EBRD
June 6 2026

Author: Nina Tsintsadze

  • EBRD unlocks US$ 20 million (€17.1 million) to broaden access to finance for refugees and young entrepreneurs in Armenia
  • Backed by EU-funded grants, risk coverage and technical assistance
  • Part of the EBRD’s broader commitment to inclusive growth

The European Bank for Reconstruction and Development (EBRD), in partnership with the European Union (EU), is providing a US$ 20 million (€17.1 million) loan package to ArmSwissBank to expand access to finance for micro, small and medium-sized enterprises (MSMEs) owned or led by Armenian refugees and young people.

The package, which comprises two loans of US$ 10 million (€8.59 million), was signed by Francis Malige, the EBRD’s Managing Director for Financial Institutions, and Gevorg Machanyan, Chairman of the Management Board and Executive Director of ArmSwissBank, on the sidelines of the EBRD’s 2026 Annual Meeting and Business Forum in Riga.

One of the US$ 10 million loans is being made through the EU4Business-EBRD Credit Line, and targets refugee-owned and refugee-led firms, as well as businesses actively integrating displaced people into their workforces. Eligible borrowers can access EU-funded investment grants of up to 35 per cent of their loan, alongside tailored advisory support to strengthen operations and develop inclusive human resource practices.

The financing will help these businesses to upgrade their technologies and services to meet EU standards, improving workplace safety and resource efficiency, with at least 70 per cent of funds directed towards green technologies. Delivered under the EBRD-EU Local Currency Programme, the facility extends ArmSwissBank’s reach to startups that may lack capital, collateral or credit history.

A further US$ 10 million comes under the Youth in Business programme and will enable ArmSwissBank to launch a dedicated product for young entrepreneurs, who often struggle to access finance due to early-stage business profiles and limited financial track records.

Alongside lending, the programme provides young business owners with expert advisory, mentoring and networking opportunities, along with a wide range of non-financial services to help them navigate challenges, create jobs and grow successful businesses.

A tailored capacity-building programme will support ArmSwissBank in adapting its lending practices to better serve this segment, supported by EU-funded performance incentives linked to the successful roll-out of its youth lending offer.

The loan is also backed by first-loss risk coverage from the EU’s European Fund for Sustainable Development Plus (EFSD+) Financial Inclusion, designed to help partner banks expand lending while managing risk and optimising capital use. This is the first transaction between the EBRD and ArmSwissBank under the Youth in Business programme.

Francis Malige, EBRD Managing Director for Financial Institutions, said: “These agreements are the result of a strong partnership between the EBRD, ArmSwissBank and the EU. They reflect our shared commitment to ensuring that the benefits of economic growth reach those who need it most, creating new opportunities for refugees and the next generation of entrepreneurs in Armenia.”

Vassilis Maragos, Head of the EU Delegation to Armenia, commented: “We welcome this EU-backed loan agreement between the EBRD and ArmSwissBank, which will contribute to expanding economic opportunities for underserved businesses in Armenia especially relevant in the context of economic pressures on Armenian businesses. Through a combination of risk sharing and blending instruments, the EU is working with the EBRD to address financing gaps that often prevent underserved firms from growing, innovating and accessing EU markets. By improving access to finance, we are supporting the next generation of entrepreneurs, free trade, job creation and the goals of the EU’s Resilience and Growth Plan for Armenia.”

Gevorg Machanyan, Chairman of the Management Board and Executive Director of ArmSwissBank, noted: “We are pleased to further strengthen our longstanding cooperation with the EBRD through these agreements, which will enable us to better serve MSMEs, including young entrepreneurs and those supporting communities affected by displacement, and expand access to finance where it is most needed.”

ArmSwissBank has been an EBRD partner since 2010. The EBRD has, to date, invested over €3 billion in Armenia across more than 245 projects, 86 per cent of which are in the private sector.