The prestigious international rating agency Moody’s has changed the outlook of Armenia’s sovereign rating from “stable” to “positive”. The government and the Central Bank associate this review with the mitigation of geopolitical risks and an unprecedented increase in confidence in the country in the international market.

Prime Minister at the Government session held on July 30 Nikol Pashinyan highlighted the agency’s decision, noting that although the long-term rating was maintained at the Ba3 level, the improvement in the outlook has deep and fundamental reasons. Analysts justify the positive change with the significant reduction of political and geopolitical risks.

In particular, the document emphasized the decrease in the probability of a large-scale military conflict with Azerbaijan, the work being done to normalize relations with Turkey, the diversification of foreign relations and the uninterrupted internal political stability of the country.

Turning to macroeconomic expectations, the agency predicts stable economic growth of 5 to 5.5 percent for 2026-2027. It is expected that this indicator will be supported by stable domestic demand, active investments, expansion of public spending and continuous development of the service sector.

The Prime Minister reminded that since 2018 (except for 2020) against the backdrop of high economic growth, analysts were always concerned with the question of whether these numbers really increase the strength and opportunities of the economy.

“It is very important that the international authoritative structure already records that the potential of Armenia’s economy has strengthened, and this is an extremely important documentation,” emphasized Nikol Pashinyan.

The deputy chairman of the Central Bank clarified the practical significance of the decision Hovhannes Khachatryan. He emphasized that the sovereign rating has a direct impact on the terms of lending to the RA government by international financial institutions. The higher the rating, the lower and more profitable the interest rates. As an example, it was mentioned that Armenia currently borrows funds from the international market at a cost that is only 1.5 to 2 percent higher than the American global anchor rate.

According to the official of the Central Bank, this is a historically unprecedented small difference, which indicates that Armenia’s specific riskiness today has reached its historical minimum level.

—

The Armenian government will finance the new youth project planned on the shore of Lake Sevan from the reserve fund. The organization of the competition-festival was entrusted to a company with extensive experience in public procurement and television projects.

In the session of July 30, the executive decided to allocate about 179 million drams for the holding of the “Warchafest 2026” music event. According to the authors of the project, the main goal of the project is to identify and encourage newly created musical groups, to spread original and live music, as well as to promote cultural tourism in the Sevan region.

In order to choose the organizer of the event, the Ministry of Education, Science, Culture and Sports sent bids to five companies, of which only two responded. As a result of the study, “Gravity Production” LLC was chosen as the executor.

The company was founded in November 2019, and its sole shareholder is director Aramais Hayrapetyan. The organization actively participates in state procurement processes and, according to official data, has cooperated with the Public Television of Armenia many times in the past.

Twelve of the thirteen contracts registered in the electronic state procurement system “Armeps” were signed by the company with the Public Television Company, using the one-person procurement procedure.

—

Export obstacles in the Russian and EAEU markets are not a disaster, but a unique opportunity to diversify the economy and raise the quality of products to a new level. This was announced by Prime Minister Nikol Pashinyan, approving the government’s new program to support fish farms.

At the Government meeting held on July 30, the head of the executive emphasized that the complexities created in traditional markets should serve as an impetus for global economic reforms.

According to the Prime Minister, although diversification of economic ties has been talked about for years, it does not happen in practice, because entering new markets requires an unprecedented increase in efficiency and compliance with strict international standards. Pashinyan called to stop complaining and use the created situation as a historical chance for development.

“I am categorically against supporting those directions that do not lead to development. Support should not be a conservative measure, it should become a way of progress to make sure that we move from point A to point B,” he said. Nikol Pashinyan։

The basis for this statement of the Prime Minister was the discussion of the project to provide financial support to 135 industrial fish farms in Ararat and Armavir marzes. According to the decision, the state will subsidize 20 percent of the cost of certified feed purchased in the first half of 2026, which will help reduce the cost and find new sales markets.

Nevertheless, the prime minister made it clear that public money will be provided under strict control. He warned about the enormous shadow in the sector, stressing that only 2.5 to 3 billion drams are paid into the state budget for the merciless consumption of the priceless artesian water basin. In addition, Pashinyan raised the acute problem of food safety and quality, being honest that he personally refused to consume fish grown in local artificial conditions a long time ago.

The head of the government summarized: the state stands by the business, but instead demands transparency, environmental responsibility and high-quality products.

—

Yesterday, Pashinyan raised a seemingly rhetorical question, which not only has a very clear and irrevocable answer, but will also be the source of all the political processes going on in Armenia.

When asked if the Russian President’s congratulations were important to him, Pashinyan responded: “There is a question as to who he was talking to. He didn’t congratulate, but who was he talking to?” Answer: “Putin spoke with Pashinyan, who was recognized as legitimate by him in 2021 and became the prime minister as a result of the elections, whose legitimacy will end on August 3, 2026.” This answer should ring in the ears of the entire administration, from Pashinyan to the last brother of Konjoryan, because this essentially means that from the point of view of Russia, there will be no government in Armenia from August 3.

Therefore, it is not clear who should leave Armenia for the EAEU session to be held in Kyrgyzstan on August 6-7. If Pashinyan is not legitimate, his deputy prime minister, minister and anyone else cannot be legitimate either. The EAEU simply has no right to accept Pashinyan at that summit. Pashinyan can announce in his own small ways that he is not going, but that does not solve the issue, and the issues are many and very serious.

For example, imagine that the EU demands Pashinyan to withdraw the Russian military base from Gyumri. Pashinyan also arrests and invites the Russian soldiers out. Those soldiers have no right to fulfill Pashinyan’s request, because Pashinyan at that moment, according to official Moscow, will be a common criminal citizen of RA, who overthrew the constitutional order and seized power.

Or let me give you another example: the budget of the Republic of Armenia has its share of all trade within the borders of the EAEU. RA receives that share from the EAEU’s total “obshyag”. If there is no government in Armenia, then the EATM has no right to transfer the money due to Armenia to someone, some N.P. from the street. If the EAEU transfers those funds to the National Assembly, today and tomorrow, RA can overcome the constitutional crisis and have a legitimate pride. Let’s assume that I am the prime minister tomorrow, can I not go to Moscow and ask the same Putin, who gave our money to him? Naturally, Putin will also find himself in a very uncomfortable situation, so from August 3, I will not give our money to anyone…

The movie has started, but don’t suddenly hope that you will be an observer. No, we all have a role in this movie… whether we like it or not. All we can do is decide whether we are taking on the role of a positive hero or a negative one…

Arthur Danielyan

—

The outbreak of intestinal infection registered in Byureghavan revealed the deep problems of Armenia’s water supply system. Prime Minister Nikol Pashinyan called to wait for the results of the examination, at the same time emphasizing the widespread deterioration of the country’s water lines and the urgency of investments included in the tariffs.

During the briefing following the government session on July 30, the head of the executive referred to the cases of mass infection, noting that the relevant bodies and the “Veolia Water” company should make reasonable conclusions after finding out the real causes of the situation. Although the Prime Minister is not sure that the incident is directly related to systemic gaps, he considered the issue in a broader and strategic context.

According to Pashinyan, it is necessary to clearly realize that the republic’s water supply network is seriously damaged. Only laying pipes and one-time investments are not enough, because without daily and consistent maintenance, the same problems will arise again. He recalled his visits to villages, when people, abandoning water meters and the centralized network, used filters covered with thick silt in their daily life.

In order to ensure the safety and normal operation of the system in the long term, it is necessary to be guided by international standards. According to the head of the government, this implies a logical inclusion of risk management and daily service costs in the tariff. The Prime Minister summarized that the state and the society should face this reality and go for systemic solutions.

—

The Armenian government hopes to settle the disagreements over the management of the national railway amicably with the Russian side, but is ready to defend its interests in the international arbitration court if necessary.

Prime Minister at the briefing following the July 30 government session Nikol Pashinyan reaffirmed the clear position of Yerevan regarding the modernization of railway infrastructures. Although on July 27, the president of the Russian Federation Vladimir Putin this topic was not discussed during the telephone conversation, the Armenian side continues to insist on the fulfillment of the obligations assumed by the concession agreement a day ago.

It refers to the agreement signed back in 2008, by which the Armenian railway network was handed over to the fiduciary management of the Russian state company “RZD” for 30 years, with the possibility of extending the agreement for another 10 years.

Today, the main problem is the urgent restoration of a number of strategically important sections under the Russian concession, in particular, the lines stretching from the Armenia-Turkey border in Akhurik, from the Armenia-Nakhijevan border to Yeraskh, as well as in Tavush to the Ijevan station.

The head of the executive of Armenia previously also urged the Russian side to speed up these works.

At the end of last year, Pashinyan announced that Yerevan is ready to finance the restoration of infrastructure with its own funds, if the Russian side violates the due dates. As an alternative solution, in February, the option of buying the management right from Russia by a friendly third country was also circulated.

According to the Prime Minister, Yerevan is ready for a peaceful dialogue, but is also ready to take legal steps, up to turning to the arbitration court.

—

Armenia officially adopted a multi-vector foreign policy, putting an end to the era of lack of political alternatives in the international arena. Prime Minister Nikol Pashinyan announced during the July 30 briefing that Yerevan has signed strategic partnership documents with a number of countries, including China, the USA, Great Britain, the Netherlands and France.

According to the head of the government, Moscow sees a problem in this diversification, guided by the approach that relations should be either exclusive or non-existent. Yerevan considers this position unacceptable, insisting on its legitimate right to develop relations with all partners.

Responding to doubts about Armenia’s reliability as a political ally, Pashinyan recalled the events of 2020. He emphasized that the Collective Security Treaty Organization (CSTO) and the Russian peacekeepers in Nagorno-Karabakh did not fulfill their direct functions, despite the fact that the Armenian side did not give any reason for such attitude.

The Prime Minister also responded harshly to the rhetoric of the President of Belarus on who needs Armenia. Pashinyan noted that the sovereign state is demanded by global and regional key players, particularly the EU, USA, China, Iran and Georgia.

During the briefing, the subject of a possible referendum on Armenia’s membership in the European Union was also touched upon. Commenting on the May 29 statement of the heads of the four EAEU countries in support of this initiative, Pashinyan expressed respect for their position, but noted that there is still no substantive discussion.

He clarified that in order to hold such a referendum, Armenia must at least submit an official application for EU membership or receive candidate status, so that putting the issue to a popular vote becomes a logical step.

—

Melanya Harutyunyan will be appointed as the press secretary of the Prime Minister. Prime Minister Nikol Pashinyan said about it in a briefing.

“As you know, Mrs. Baghdasaryan is terminating her tenure as the Prime Minister’s spokesperson. I want to thank him. I want to inform that Melanya Harutyunyan will be appointed as the press secretary of the Prime Minister. I hope that we will be able to cooperate and, of course, we will keep and preserve the format of our discussions in the near future,” said the Prime Minister.

—

Human rights defender Ruben Melikyan writes.

“According to the decision of the appellate anti-corruption court, the prison sentence applied to Armen Ashotyan was replaced by house arrest. The change of the freedom regime will take place already today.”

—

Iveta Tonoyan, the spokesperson of the “Prosperous Armenia” party president, issued a statement stating that Nikolay Vinitsky, a dual-citizen investor of Belarus and Russia, has provided the RA government with a notice regarding the claims to be submitted to arbitration, claiming that his investment rights and economic interests in Armenia were violated as a result of the actions of the RA authorities.

PRESS RELEASE

An investor with dual citizenship of Belarus and the Russian Federation reports an investment dispute against the Republic of Armenia in connection with the confiscation of Armenian enterprises. 

Mr. Nikolay Vinitsky, a dual-citizen investor of Belarus and Russia, announced that on July 27, 2026, he submitted a notice of investment dispute to the Government of the Republic of Armenia, officially informing about the claims to be submitted to arbitration within the framework of the following three international agreements on investment protection:
• May 26, 2001 Agreement between the Government of the Republic of Belarus and the Government of the Republic of Armenia on investment assistance and mutual protection,
• Agreement between the Government of the Russian Federation and the Government of the Republic of Armenia on the promotion and mutual protection of capital investments of September 15, 2001,
• Treaty on the Eurasian Economic Union.

This lawsuit may become one of the first disputes in which claims will be filed against the Republic of Armenia based on the investment protection provisions of the Eurasian Economic Union Agreement, setting an important precedent for the protection of investments in Eurasian Economic Union member states.

On July 29, 2026, the Government of the Republic of Armenia officially confirmed the receipt of the Notice.

The dispute concerns Mr. Vinitsky’s investments and economic interests in the following four Armenian companies (hereinafter referred to as the “Enterprises”):

● ARARATSEMENT CJSC,
● “MULTI GROUP CONCERN” LLC,
● “MULTI WELLNESS CENTER” LLC,
● “YEREVAN ARARAT BRANDY-WINE-VODKA FACTORY” OJSC.

The case refers to the allegations that the government of the Republic of Armenia, in the period before and after the parliamentary elections held in June 2026, carried out continuous actions, as a result of which it illegally confiscated Mr. Vinitsky’s investments, did not provide them with the protection required by international law, and significantly hindered their management, operation and use by using unreasonable, arbitrary and discriminatory measures adopted for political purposes.

The case also refers to the allegations that, over a long period of time, law enforcement agencies, the judiciary and local self-government bodies, acting in a coordinated manner and on the basis of instructions given by the executive branch, carried out actions aimed at establishing control over the Enterprises. The main shareholder of the Enterprises, Mr. Gagik Tsarukyan, who is also Mr. Vinitsky’s business partner, as well as members of the Enterprises’ management, were arrested, while the measures taken by the authorities paralyzed the Enterprises’ activities. Enterprises are among the largest employers and taxpayers in Armenia.

The investor called on the Government to refrain from any further action that would lead to the confiscation of the Enterprises or otherwise undermine the rights and economic interests of Mr. Vinitsky. He also demanded that the Government restore the previous legal and factual situation, including by returning the management and control of the Enterprises to their legal shareholders and governing bodies, refraining from implementing the announced nationalization measures and enabling the Enterprises to resume their normal economic activities without state or political interference.

With the notification, the Republic of Armenia is offered to settle the dispute through negotiations. At the same time, it records the acceptance by the investor of the agreement given by Mr. Vinitsky to the arbitration of the Republic of Armenia within the framework of the three applicable international agreements.

If the dispute cannot be resolved through negotiations, Mr. Vinitsky intends to initiate international investment arbitration proceedings, seeking full compensation for damages caused to him by the Republic of Armenia’s violation of its obligations under the applicable investment agreements and the Treaty on the Eurasian Economic Union.

Nikolai Vinitsky
July 30, 2026
Minsk, Belarus

—