The PAP congress and the presentation of the “Offer to Armenia” project and team will take place

On April 9, the congress of the “Prosperous Armenia” party and the presentation of the “Offer to Armenia” program and team will take place.

Hrachya Rostomyan will head the pre-election headquarters of the “Prosperous Armenia” party for the upcoming parliamentary elections. Armen Manukyan, a member of the PAP political council, will regulate the work with regional offices, and Gevorg Stepanyan, a member of the Council of Elders of the “Mother Armenia” faction of the Yerevan Municipality, will coordinate the work of Yerevan city structures.

I, Iveta Tonoyans, will coordinate the work with public relations and mass media. Our communication with citizens and media representatives will be open, transparent and permanent.

Representatives of various parties, non-party persons, reputable specialists of various fields, and public figures will be involved in the team and staff work.

Together we are entering an extremely responsible phase, confident that coordinated work, a clear vision and a strong team can bring real changes for Armenia.


Iveta Tonoyan




Inflation, economic slowdown. prospects for the coming months

The increase in oil prices is already a serious impulse for the world economy.


If the price of oil continues to rise, the world may face an economic shock. This means that in the coming months it is possible to see an increase in prices, an economic slowdown and a decrease in people’s purchasing power.


Why is this important?
Oil affects almost everything, from fuel to food. When it becomes more expensive, other goods and services become more expensive as a chain.


Արդյունքում՝
• prices are rising
• People’s purchasing power decreases
• the economy is slowing down.


In other words, we can buy less with the same money.


Economist Suren Parsyan




Verelq: Russia decided not to play Pashinyan, but to say everything as it is

Photo: kremlin.ru

Prime Minister of Armenia Nikol Pashinyan the last visit to Moscow clearly recorded the tectonic shifts taking place in Armenian-Russian relations. For the first time at the highest level, the Kremlin so openly mentioned its “red lines”, refusing to smooth out sharp corners on the eve of parliamentary elections in the republic and the upcoming Armenia-EU summit. This meeting showed that the period of diplomatic half-talks is over. Moscow demands clarity of course from Yerevan and does not hide its skepticism about attempts to combine EAEU membership with active European integration.


How do they really evaluate the results of these negotiations in Russia, and what countermeasures are they preparing? VERELQis a leading researcher at the Institute of International Studies (ISI) of the Ministry of Foreign Affairs of Russia Nikolay Silaev discussed the motives of the open and rather harsh statements of the Russian leadership. In the interview, he explains in detail why the course of Armenia’s accession to the EU is perceived in Moscow as a point of no return, is it worth waiting for Russia to directly support one or another candidate in the parliamentary elections to be held in Armenia on June 7, and what consequences will the political elites’ attempt to engage in wordplay in the geopolitical arena lead to?



Nikolay Silaev is in the photo, source: golosarmenii.am


VERELQ: Mr. Silaev, let’s discuss the results of the recent negotiations between Armenian Prime Minister Nikol Pashinyan and Russian President Vladimir Putin in Moscow. Many people paid attention to the fact that in the open part of the meeting, the Russian side for the first time at the highest level voiced the demands towards Yerevan that were previously voiced only by experts and lower-level officials. It is noteworthy that this meeting initiated by the Armenian side took place on the threshold of two important events. Two months before the parliamentary elections in Armenia and one month before the Armenia-EU summit. Why, in your opinion, did the Russian leadership decide to announce its grievances so openly right now?


Nikolay Silaev. Well, first of all, far from all demands were heard at the meeting. A much more complete list of them is contained in the interview of Russian Deputy Prime Minister Alexei Overchuk, which was published, if I am not mistaken, the day after Nikol Pashinyan’s visit. Russian approaches to relations with Armenia are really detailed here, and if we compare the detail and level, then it is probably the highest and most complete statement of our position.


And the president? Vladimir Putin he went into details much less. In his speech at the meeting, it was more about the general atmosphere of relations. This visit was thought of as a pre-election visit by official Yerevan. its purpose was to neutralize the accusations against the Prime Minister that he is spoiling the relations with Russia. The Russian side could either support Nikol Pashinyan in this matter or not. The decision was made not to gamble, but to call a spade a spade.


I believe that the meeting with the president was an attempt to agree on the improvement of bilateral relations. But when it became clear that this was not possible, Alexey Overchuk’s interview was put into action, which, judging by its content, was prepared in advance.


VERELQ: In your opinion, how will Armenian-Russian relations develop in the near future, especially during the pre-election period? After the Moscow negotiations, we witnessed a clear divergence of assessments. the Armenian side called the meeting full and effective, while the Russian side made harsher statements, in particular, calls not to interfere with Russia’s role in the discourse on Nagorno-Karabakh. Russian Foreign Minister Sergey Lavrov also made a number of critical remarks. How do you think, in fact, how did both parties perceive the results of these negotiations?


Nikolay Silaev. I think they perceived them in about the same way, as strange as it may sound. It would be unexpected if, following the results of the visit, the Armenian side publicly announced that the negotiations were ineffective, unsuccessful, and the pre-election visit failed. In fact, I assume that everyone understands everything. either we are truly allies, good neighbors and friends, or we are not. This dilemma is clearly stated and the parties are well aware of it. Now it remains to wait when Armenia will be promised many symbolic benefits and advantages at the upcoming summit with the European Union.


VERELQ: I would like to discuss Armenia’s course of rapprochement with the European Union. Official Yerevan openly declares its desire to join the European Union, but it is obvious that full membership is unlikely in the foreseeable future. However, taking into account the current geopolitical realities and Armenia’s participation in the Eurasian Economic Union, how problematic is the very process of Armenia’s European integration for Moscow?


Nikolay Silaev. By now, it is clear that this is problematic in at least one respect. it is impossible to be part of the Eurasian Economic Union and the European Union at the same time. Armenia can fully start the integration process, which will inevitably lead to, for example, joining the European Union sanctions against Russia, as well as many other steps.


Long before the issue of Armenia’s membership in the European Union or even granting it candidate status will be moved to the level of practical negotiations, Yerevan will be required to perform the so-called “homework”. And Armenia, striving towards the European Union, will have to fulfill it. That task will include the very European standards that the president mentioned. I expect that Armenia will be asked to join the anti-Russian sanctions.


All these processes will start “on this shore” even before the actual accession to the European Union and even before the start of official negotiations on the accession. Therefore, if we start from the assumption that Armenia will not join in the near future anyway, and ask what the difference is for Russia, the answer is unequivocal. There is a difference for Russia. In addition, it should be taken into account that the European Union has long ceased to be an exclusively economic union and is rapidly turning into a military-political bloc.


VERELQ: Let’s return to the internal political situation of Armenia. At the meeting, Russian President Vladimir Putin addressed the issue of the participation of pro-Russian forces in the Armenian electoral process, noting that their presence would be a positive factor. Politicians with Russian passports under pressure were also mentioned. Expert circles assume that it could refer to such figures as the detained Samvel Karapetyan, and that Moscow wants their full participation in the country’s political life. Does such attention at the highest level mean that Russia has its own candidate for prime minister in the upcoming elections?


Nikolay Silaev. I don’t think so. Russia’s position is somewhat more complicated. It was about the following. there are people with different views in the Armenian political field. Voters and political parties have different beliefs. The main message was that those politicians who are in favor of allied, neighborly and friendly relations with Russia should have the opportunity to freely participate in the elections. It is not worth it for them to create artificial obstacles, as is happening now. The point, of course, is not to support any specific candidate, but to ensure fair conditions for holding the elections themselves.


VERELQ: Summing up: In your opinion, in what scenario will Armenian-Russian relations develop in the future? Will Moscow and Yerevan simply monitor the current situation and react to problems as they arise, or was the meeting symptomatic and we should expect serious consequences for bilateral ties in the near future?


Nikolay Silaev. Now it is difficult to make unequivocal predictions, but let’s say. I think that Russia is interested in providing a clear understanding of its position both to the Armenian government and to the society.



  1. First of all, Russia is interested in maintaining allied, friendly and neighborly relations with Armenia.

  2. And secondly, in Moscow they want to make Yerevan aware. Integration with the European Union means a break with Russia, and that break will have concrete consequences.


VERELQ: Do you mean that even the process of European integration itself will lead to such consequences, and not just the actual accession of Armenia to the European Union?


Nikolay Silaev. In this case, integration and membership are the same thing. In fact, the logic of the Prime Minister of Armenia, which he demonstrated during the meeting with the President of Russia, comes down to the following. “We’re definitely not going anywhere, we just want to go both there and there.” However, trying to sit on two chairs is hardly compatible with maintaining good relations with Russia. in fact, that’s exactly what the president said. In other words, another important meaning of what was said in the Kremlin is that politicians do not need to play with words.

Asbarez: Groups Urge Yerevan to Engage Switzerland as ‘Protecting Power” for A

Former Artsakh leaders were paraded in a Baku military court on Jan. 21


Relatives and representatives of Armenian detainees unlawfully being held in Azerbaijan sent a letter to Foreign Minister Ararat Mirzoyan and other international leaders to engage Switzerland to act as what is known as “protecting power” over the detained Artsakh Armenians.

The request was also sent to Swiss Foreign Minister Ignazio Cassis and President of International Committee of the Red Cross Mirjana Spoljaric Egger.

This development was reported by attorney Siranush Sahakyan, who is the representative of Armenian captives at the European Court of Human Rights and leads the Center for International and Comparative Law.

The letter warned that “time is of the essence,” and expressed “deep concern following the complete closure of the International Committee of the Red Cross office in the Republic of Azerbaijan. This development has gravely exacerbated the already dire situation of our relatives, leaving us in a state of profound uncertainty regarding their fate and wellbeing.”

“Considering these circumstances and recalling the obligations set forth under international humanitarian law, we respectfully but firmly urge the Government of Armenia to extend a formal invitation to the Government of the Swiss Confederation to assume the role of Protecting Power. Such an intervention is both necessary and urgent to ensure that the rights, safety, and dignity of our relatives are safeguarded through internationally recognized mechanisms of protection,” the groups said in the letter.

“Azerbaijan’s continued incommunicado detention of Armenian captives, without access by their families, independent lawyers, or impartial humanitarian actors, constitutes a flagrant breach of its obligations under international humanitarian law, including the Geneva Conventions,” the letter states in part,” charged the signatories.

Noting that at least 19 individuals are currently being held in Baku, their relatives emphasized that this situation has created a “serious vacuum in the protection of rights, resulting in a high risk of violence, ill-treatment, and even enforced disappearance.”

A protecting power is a country that represents another sovereign state—the protected power—in a third country where the protected power lacks its own formal diplomatic representation (e.g., lacks an embassy or consulate). The protecting power also inquires into the welfare of prisoners of war and looks after the interests of civilians in enemy-occupied territory.

The institution of protecting power dates back to the Franco-Prussian War of 1870 and was formalized in the Geneva Convention of 1929. Protecting powers are authorized in all four of the Geneva Conventions of 1949. In addition to sovereign states being appointed as protecting powers, the International Committee of the Red Cross may be appointed a protecting power.

Thus, the signatories are urging the Armenian government to extend an invitation to Switzerland to assume the role of the “Protecting Power” with respect to all Armenian captives currently being held in Azerbaijan.

They are also calling of the Swiss government to accept the invitation, “thereby ensuring the captives’ rights, dignity, and protection to the fullest extent possible, and providing the guarantees that Azerbaijan has unlawfully denied,” the letter said.

The signatories also are calling the ICRC to support the Swiss appointment and assist its government in fulfilling the Protecting Power function.

“Time is of the essence. Continued inaction risks further aggravating the suffering of those unlawfully detained and increasing the threats to their lives and physical integrity. We therefore respectfully call upon the Government of the Republic of Armenia and the Government of the Swiss Confederation to take timely and appropriate measures within their respective mandates, and invite the International Committee of the Red Cross to extend its support, with a view to ensuring that international law is effectively upheld and that the rights of ethnic Armenians are duly protected in the face of ongoing violations,” the letter concluded.

Belarus Leader Warns CSTO Must be Very Careful in Dealing with Armenia

President Alexander Lukashenko of Belarus at the CSTO Summit


Belarusian President Alexander Lukashenko has called on the Collective Security Treaty Organization to be very careful and tactful in its engagement with Armenia.

Speaking on Monday during a meeting with CSTO Secretary General Taalatbek Masadykov, Lukashenko acknowledged that while the organization has achieved certain results, it continues to face a number of unresolved issues. Among them, he singled were relations with Armenia as requiring particular attention, the Belta news agency reported.

According to the Belarus leader, Armenia’s position within the CSTO remains complicated. He noted that Yerevan appears reluctant to fully support the organization’s activities, yet continues to remain a member. In this context, Lukashenko stressed the importance of maintaining a careful and balanced approach.

He also pointed to Armenia’s domestic political environment, highlighting the upcoming parliamentary elections expected this summer. Describing the period as “very difficult,” Lukashenko said that the electoral context makes it especially important for the CSTO to proceed cautiously in its dealings with the country.

Lukashenko further emphasized the need for direct engagement between the CSTO leadership and Armenian authorities. He suggested that Masadykov visit Armenia to hold discussions with senior officials, including the prime minister, the president, and the secretary of the Security Council, in order to better understand their position on future cooperation within the CSTO framework.

Ardy Kassakhian Elected to SoCal Association of Governments

Ardashes “Ardy” Kassakhian


GLENDALE — Glendale City received official notice from the Southern California Association of Governments that Councilmember Ardy Kassakhian has been elected and declared as the Regional Council Representative for District #42, on April 1.

“I’m honored to be selected to represent Glendale and Burbank on SCAG’s Regional Council,” said Councilmember Kassakhian. “SCAG plays a critical role as the Metropolitan Planning Organization for Southern California—helping shape transportation, housing, and growth policy for nearly 19 million residents across six counties.

Over the next two years, Ardy Kassakhian will serve on SCAG, helping shape regional policies on transportation, housing, and sustainability that guide investment and growth across Southern California. This position will allow him to advocate on behalf of Glendale and his district, ensuring local priorities are represented while keeping City leadership informed on regional decisions, funding opportunities, and state-driven mandates.

Councilmember Kassakhian added, “Glendale and Burbank are not just participants in that conversation—we are partners in shaping it. I look forward to advancing forward-looking policies grounded in present realities and practical predictions of growth. But regional collaboration must respect local control. We can be part of a broader vision for Southern California’s future without giving up our ability to guide our own growth and decisions.”

SCAG serves as the Metropolitan Planning Organization for Southern California, bringing together cities, counties, and regional agencies to coordinate planning efforts related to transportation, housing, environmental sustainability, and economic growth across the six-county region.

Known as the “Jewel City,” Glendale is the fourth largest city of Los Angeles County. With a population of almost 200,000, Glendale is a thriving cosmopolitan city that is rich in history, culturally diverse, and offers nearly 50 public parks & facilities, with easy access to a municipal airport. It is the home to a vibrant business community, with major companies in healthcare, entertainment, manufacturing, retail, and banking. For more information visit the city website or follow on social media @MyGlendale.

Armenia could quit Russia’s NATO-equivalent alliance and economic union if Mo

EuroMaidan
Apr 5 2026

Armenia’s parliament speaker, Alen Simonyan, said on 4 April that his country would exit both Russia’s collective security alliance and its economic union if Moscow raised gas prices, News.am reported. Simonyan said he does not expect the scenario to materialize, citing a “very good, productive, and fruitful” follow-up conversation between the leaders. 

The warning comes after the 1 April meeting between Prime Minister Nikol Pashinyan and Russian ruler Putin, at which Putin hinted at possible gas supply problems if Armenia continues its EU pivot. The statement is the latest indicator of Armenia’s accelerating drift from Russia’s orbit — a shift years in the making, rooted in Moscow’s refusal to intervene during Azerbaijan’s 2020 and 2023 offensives in Nagorno-Karabakh.
Putin’s gas hint, Simonyan’s answer 

At the 1 April meeting in Moscow, Putin hinted that Armenia could face gas supply problems if it moves closer to the EU. 

“Gas prices in Europe exceed 600 dollars per 1,000 m³, whereas Russia provides gas to Armenia at 177.5 per 1,000 m³,” he told Pashinyan, adding that “the disparity is vast, the difference is substantial.”

The Armenian PM reiterated on the same day that Armenia has frozen its participation in the Collective Security Treaty Organization (CSTO) — Russia’s military alliance covering Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan — at all levels, calling the decision sufficient for now.

Commenting on the Pashinyan-Putin meeting, Simonyan said such gas price discussions are not new. 

“If they make that decision, Armenia will make its own decision and withdraw from the CSTO, from the Eurasian Economic Union,” he said at a briefing before an extraordinary session of the ruling Civil Contract party. He added that Armenia has done nothing against Russia and does not intend to, but “will defend the interests of the Republic of Armenia.”

Simonyan said he does not think it will come to an exit, pointing to the productive conversation between the leaders after the Putin-Pashinyan meeting. 

Peskov: Armenia decided Karabakh status, not Russia

Big News Network
April 6 2026

PanArmenian.Net
6th April 2026, 11:38 GMT+11

PanARMENIAN.Net – The decision on the status of Nagorno-Karabakh was made by Armenia’s authorities, and Russia has no involvement, Kremlin spokesman Dmitry Peskov said.

“The only thing President Putin and Russia want is that, when discussing this issue, there should be no unnecessary references to us. Russia has absolutely nothing to do with this,” he said in an interview with Vesti journalist Pavel Zarubin, Interfax.ru reports.

Azerbaijan has expressed dissatisfaction that the Russian side continues to refer to the Karabakh issue, which it considers “exclusively an internal matter of Azerbaijan,” according to a statement by the Azerbaijani Foreign Ministry.

It states that Baku has conveyed, through diplomatic channels, its position to the Russian presidential administration, government, and Foreign Ministry regarding “the inadmissibility of using the Karabakh issue for political speculation, as well as expectations to cease such actions,” APA reports.

“Despite this, the topic continues to appear in the official political discourse of the Russian side. Thus, Russian presidential spokesman Dmitry Peskov, in an interview with the Vesti TV channel, while discussing Russian-Armenian relations, again commented on the question of which side – Russia or Armenia – first recognized the Karabakh region as part of Azerbaijan.

…The fact that the Karabakh region is an integral part of Azerbaijan is based not on any country’s decision, but on history, international law, and justice, which was once again confirmed and definitively consolidated as a result of the 44-day war in 2020 and the one-day anti-terrorist measures in 2023.

We would like to once again remind the Russian side that no country, including the Russian Federation, has ever questioned Azerbaijan’s territorial integrity, including the Karabakh region.

We reiterate our expectation to the Russian side that issues related to Azerbaijan’s sovereignty will not become a subject of public discussion at a time when Russian-Armenian relations are going through a complex phase,” the Azerbaijani Foreign Ministry said.

At a meeting with Armenian Prime Minister Nikol Pashinyan, President Vladimir Putin stated:

“The most sensitive issue to this day – we understand this, we often talk about it – is everything related to Karabakh. We constantly return to this topic. And we know that both you and your colleagues have had, and continue to have, questions and certain dissatisfaction regarding the Collective Security Treaty Organization (CSTO). We constantly revisit this issue. But I think it is also obvious that after you recognized in Prague in 2022 that Karabakh is part of Azerbaijan, CSTO intervention in this process, which has taken on an intra-Azerbaijani character, would have been absolutely inappropriate in this matter concerning Karabakh’s reintegration, if we consider it part of Azerbaijan. This is not an assessment – I am not saying whether this is good or bad – but from the point of view of organizing peaceful life, I believe it probably made sense,” Putin said.

Source: PanArmenian.Net

Inside Armenia’s underground wellbeing retreat where asthma patients seek rel

EuroNews
April 6 2026

Once state-funded, the centre now faces possible closure after the government withdrew support, saying the treatment lacks scientific evidence.

Deep beneath Armenia’s capital, a Soviet-era salt mine turned wellbeing hospital has become the unlikely centre of a growing debate over alternative medicine and modern healthcare.

Visitors descend 235 metres underground into the Republican Centre of Speleotherapy in Yerevan, where treatment consists not of medication but of breathing mineral-rich air inside huge salt caves believed to ease respiratory illness.

Speleotherapy – from the Greek word spḗlaion, meaning “cave” – is a form of alternative respiratory therapy based on spending extended periods in underground environments such as salt mines.

The clinic opened in 1987 and for decades operated as part of Armenia’s public healthcare system. But in 2019, the government cuts its funding, saying the treatment did not meet the evidence-based standards required under the country’s new universal healthcare reforms.

Since then, the centre has been fighting to stay open, even as patients continue travelling long distances in search of relief.

An unusual medical retreat beneath the earth

Armen Stepanyan, a 63-year-old mechanical engineer from the Siberian city of Kemerovo in Russia, has returned to the caves every year for more than a decade to treat severe asthma. “I’ve had asthma since I was 37. It got really bad at some point, and nothing would help. I went to a sanatorium for treatment, but that didn’t help either, so eventually I came here.”

He describes the therapy as life-changing: “I thought it was salvation. After that, I came to Yerevan every year, except for the coronavirus year. This is already the 13th time I’ve come to these caves for treatment.”

Inside the tunnels, patients rest in rows of beds, exercise, or sit together in group therapy sessions while doctors monitor their breathing and lung function. The underground environment is shielded from allergens, pollution and temperature fluctuations.

Doctor Anush Voskanyan has worked at the clinic since it opened nearly four decades ago. “The Republican Centre of Speleotherapy is located at a depth of 235 metres, deep in the salt mines. Our hospital was founded about forty years ago, and I’ve been working here since its creation. We treat mainly patients with bronchial asthma, allergic diseases, especially respiratory allergies, and skin allergies.”

She says the conditions underground are key to the treatment’s effects: “The air here is ionised, and the temperature is constant year-round, 19–20°C, and doesn’t fluctuate constantly. This is due to the depth down the earth’s crust. Radiation is reduced to zero here.”

“There are no surface magnetic radio waves, noise, dust, or allergens, and thanks to all these factors, we obtain the healing effect,” she adds.

An old medicine under scrutiny

Supporters argue that speleotherapy has long been part of healthcare traditions across eastern Europe and the former Soviet Union, where natural environments such as mineral springs and mountain sanatoriums were widely used to treat chronic illness.

However critics argue there is still not enough large-scale scientific research proving the treatment actually works, and Armenian health officials say that with limited healthcare budgets, priority has to go to treatments supported by stronger evidence.

The withdrawal of state support has sharply reduced patient numbers and placed the centre’s future in doubt.

“Our centre is currently facing a crisis, as we no longer receive government funding. The centre is at risk and may be forced to close down completely. As a result, patients are unable to receive treatment due to the lack of government support. We hope that investors will come forward and that the centre will be revived,” Voskanyan says.

The government is now trying to privatise its share in the facility, raising hopes that private investors or medical tourism could potentially help keep the underground clinic open.

Check out the video above to see inside the underground retreat. https://www.euronews.com/video/2026/04/06/inside-armenias-underground-wellbeing-retreat-where-asthma-patients-seek-relief



Heading west

Emerging Europe
April 6 2026

Armenia’s economy is thriving as it loosens ties with Russia and looks towards Brussels. That may be no coincidence.

It was, even by the standards of what passes as Kremlin diplomacy, an extraordinary piece of theatre. On April 1, Vladimir Putin sat across from Nikol Pashinyan, Armenia’s prime minister, and told him bluntly that membership in both the EU and the Russian-led Eurasian Economic Union (EAEU) was impossible. He dangled the price of Russian gas (177.50 US dollars per thousand cubic metres, against more than 600 US dollars in Europe) as a reminder of what Yerevan stood to lose. Pashinyan did not flinch. When the time comes to choose, he replied, the citizens of Armenia will make that decision.

The exchange would have been unthinkable a few years ago. Armenia was, for three decades after independence, firmly within Moscow’s orbit: a member of the EAEU and the Collective Security Treaty Organisation (CSTO), host to a Russian military base, dependent on Russian gas and arms. What changed everything was Azerbaijan’s reconquest of the Karabakh region in 2023. Russia, Armenia’s nominal security guarantor, did nothing. Pashinyan has not forgiven this, and nor have ordinary Armenians. The country suspended its CSTO membership in 2024. Its parliament passed an EU accession law in March 2025. And this March Pashinyan stood before the European Parliament in Strasbourg and declared that Armenia’s path led to Brussels.

The economy, meanwhile, is giving him cover. The World Bank’s latest economic update, published in March, paints a picture of robust health. Economic activity grew by 7.6 per cent year on year in January, powered by an 18.7 per cent surge in construction and a 25.2 per cent jump in mining. Retail expanded by 7.9 per cent. Tourist arrivals were up 28.6 per cent. The financial system looks solid: the capital adequacy ratio stands at 20.3 per cent and non-performing loans at just 1.3 per cent. A budget surplus equivalent to 0.9 per cent of projected annual GDP was recorded. Gross reserves reached 5.5 billion dollars at the end of February, enough to cover 4.1 months of imports.

Dig beneath the headline figure and the story gets more interesting. Exports and imports both fell sharply in January (by 13.5 and 11.2 per cent respectively), largely because the re-export boom in precious stones and appliances that accompanied Russia’s war in Ukraine is winding down. Strip those categories out and exports actually rose by eight per cent. Armenia’s economy, in other words, is weaning itself off the sanctions-arbitrage windfall that briefly inflated its trade figures in 2022 and 2023. Mining exports (up 43 per cent) and a fast-growing technology sector are picking up the slack. Tech now accounts for roughly seven per cent of GDP, and the number of active high-tech companies surged from around 8,000 in 2024 to more than 10,700 in 2025. A 500 million US dollars partnership between Firebird, an American AI cloud start-up, NVIDIA and the Armenian government to build an AI computing facility may sound fanciful for a country of three million. But Armenia has deep roots in mathematics and semiconductor design stretching back to the Soviet era.

Manageable risks

Remittances tell a more complicated tale. Net non-commercial money transfers grew by 43.7 per cent in January, with Russia accounting for 52 per cent of inflows and the United States 38 per cent. Armenia remains tethered to Russian money, even as it drifts politically westward. Inflation, too, needs watching: it rose to 4.3 per cent in February, driven mostly by food prices (up 6.5 per cent). The central bank’s policy rate sits at 6.5 per cent, but food-price pressure in a country where groceries make up around 40 per cent of the consumption basket is not something any government can ignore before an election.

And an election is coming. Armenians go to the polls in June for parliamentary elections that will amount to a referendum on Pashinyan’s westward turn. Putin made his interest in the outcome plain at the Kremlin, expressing hope that ‘pro-Russian forces’ would be allowed to compete freely and noting that some of their representatives were in custody. He was referring to Samvel Karapetyan, a Russian-Armenian billionaire arrested last year after calling for the government’s ouster. Pashinyan’s reply was characteristically pointed: Armenian law bars dual citizens from standing for office. Moscow’s preferred candidates are welcome to run, provided they choose Armenia over Russia first.

The EU, for its part, is rolling out the welcome mat. A 270 million euros Resilience and Growth Plan for 2024 to 2027 is already in place. A new Strategic Agenda was adopted in December 2025. In May, Yerevan will host both the eighth European Political Community summit and the first ever EU-Armenia summit. Visa liberalisation talks are under way. And the EU monitoring mission deployed along the Armenia-Azerbaijan border since 2023, modest in size but potent in symbolism, is a quiet reminder that Europe has skin in the game.

None of this makes the path smooth. Armenia is landlocked, shares no border with the EU, and gets its gas from Russia at a fraction of European prices. Georgia, its only plausible land corridor to Europe, has its own fraught relationship with Brussels. The World Bank projects growth will moderate to around 4.6 per cent in 2026 as the post-invasion sugar rush fades. And Russian interference in the June elections is likely.

Pashinyan appears to have decided that these are manageable risks. His message to Putin was polite but unmistakable: Armenia is a democracy where social networks face no restrictions, where there are no political prisoners, and where citizens (not foreign presidents) determine the country’s direction. The formal EU membership application has not yet been submitted. The trajectory, though, is plain enough. Armenia’s future, its prime minister reckons, lies in Brussels, not in a customs union designed in Moscow. The numbers, so far, suggest he might be right.