The government has approved the allocation of funding for new subvention programs, under which 16 projects will be co-financed in 13 communities across Armenia, with a total budget of 1.634 billion drams ($4.44 million USD).

Prime Minister Nikol Pashinyan, speaking at Thursday’s Cabinet meeting, placed particular emphasis on housing renovation projects within the package, especially highlighting the importance of improving energy efficiency in residential buildings.

He stressed that energy efficiency should receive greater attention in government programs, including through the adoption of international best practices in the field.

Pashinyan also noted that the scale of subvention-funded projects implemented in communities has been steadily increasing, adding that the subvention system is one of the government’s most successful initiatives and has significantly transformed communities across the country.

The funding agenda was presented by Minister of Territorial Administration and Infrastructure Davit Khudatyan.

The minister said the proposal covers 16 subvention projects in 13 communities: one in Aragatsotn Province, three in Ararat Province, four in Armavir Province, two in Gegharkunik Province, three in Kotayk Province, and three in Tavush Province.

Khudatyan also noted that more than ten communities currently have road paving applications alone exceeding 3.4 billion drams, submitted for consideration for 2026.

On June 17, in Vienna, Deputy Foreign Minister of Armenia Robert Abisoghomonyan participated and delivered remarks at the OSCE Annual Security Review Conference.

Remarks by the Deputy Foreign Minister, as published by the Foreign Ministry, follow below:

“Distinguished chair, excellencies, dear colleagues, ladies and gentlemen. At the outset, I would like to thank the Swiss Chairpersonship for convening this special session of the Annual Security Review Conference. Once again, we meet at a time when ongoing conflicts, erosion of trust, and continued violations of international human rights law and international humanitarian law challenge stability across the OSCE area. In this environment, the principles and commitments underpinning the European security order remain as relevant as ever. The OSCE continues to provide a unique platform for dialogue and confidence-building among participating States. At the same time, the effectiveness of the Organization is closely linked to the implementation in good faith of OSCE commitments. The gap between commitments and their implementation, rather than the principles themselves, lies at the heart of many of the challenges facing the OSCE today. This underscores the need to strengthen compliance with existing commitments and ensure that the Organization’s tools and mechanisms remain effective and responsive to evolving security challenges.

Dear colleagues, arms control, confidence-building measures and verification mechanisms remain important components of the OSCE’s comprehensive approach to security. Credible arms control and verification measures can contribute to transparency, predictability and risk reduction, thereby strengthening regional stability and security. However, in practice and judging from experience, the effectiveness and credibility of arms control mechanisms ultimately depend on their ability to address security realities as they evolve and to provide meaningful safeguards against escalation. Indeed, developments in recent years have exposed limitations in the ability of these mechanisms to adequately respond to changing security realities. This challenge is further highlighted by rapid technological developments and evolving methods of warfare, which continue to reshape the security environment. Ensuring that existing instruments remain relevant, effective and responsive to contemporary security challenges should therefore remain an important priority for participating States. Excellencies, since my last address at the 2025 ASRC, our region has experienced significant developments. On August 8, 2025, in Washington, DC, the leaders of Armenia, Azerbaijan and the United States of America, the latter as a witness, signed a Joint Declaration, opening a new chapter of peace, prosperity and regional cooperation in the South Caucasus. The Washington summit has also created a significant opportunity for the unblocking of regional communications between Armenia and Azerbaijan and for advancing a broader regional connectivity agenda. In this regard, connectivity constitutes an important pillar of the new regional reality. In line with these understandings, Armenia has worked with the United States to establish the framework for a connectivity project called “Trump Route for International Peace and Prosperity” (TRIPP). The signing of the Framework Agreement on Strategic Cooperation concerning TRIPP in early June by the Minister of Foreign Affairs of the Republic of Armenia and the United States Secretary of State marked an important step towards the implementation of these understandings. Grounded in the principles of sovereignty, territorial integrity and national jurisdiction, the TRIPP project aims to enhance international, inter-state and intra-state transportation connectivity, facilitate regional and global trade, and contribute to peace, stability and prosperity in the region. Armenia also attaches importance to the continued normalization process with Türkiye, as an important pillar of broader regional stability and connectivity, within the ongoing efforts aimed at fostering a more predictable and cooperative environment in the South Caucasus and beyond. We appreciate the level of political dialogue with Türkiye, while tangible progress, including the opening of borders and the establishment of diplomatic relations, remains essential for durable and irreversible peace in the region.

Mr. Chairperson, in an increasingly interconnected and complex security environment, no State can effectively address today’s challenges alone. From regional conflicts and forced displacement to emerging hybrid threats and foreign information manipulation and interference, many of the issues confronting the OSCE area require collective responses grounded in dialogue, cooperation and mutual respect. Against this backdrop, the evolving security environment underscores the need for the OSCE to continuously adapt its tools and approaches in order to respond effectively to contemporary risks and emerging security challenges. Armenia stands ready to contribute constructively to efforts aimed at strengthening the effectiveness of the Organization, while ensuring that its core functions, such as the early warning and conflict prevention capacities, are effectively revitalized and reinforced. Sustainable security in the OSCE area can only be achieved through genuine cooperation, mutual respect, and adherence to our shared commitments. Armenia remains convinced that only through a renewed commitment to these principles can we strengthen trust, restore predictability and advance lasting peace across the OSCE area of responsibility.

Thank you.”

Parliament debated on Thursday a bill presented by the Central Bank on the introduction of a bank restructuring framework. Under the bill, the exclusive authority to restructure banks will be granted to the Central Bank.

Central Bank Vice Governor Armen Nurbekyan presented the legislation to lawmakers in its first reading.

The draft defines the procedures and conditions for restructuring banks operating in Armenia and branches of foreign banks.

According to Nurbekyan, under current regulations, if a financial institution faces financial difficulties, the only practical solution for stabilization is liquidation. The goal of the new law is to change this approach and create the possibility of restructuring a financial institution in crisis.

Nurbekyan said, “The bill on bank restructuring aims to change current regulations by enabling the restructuring of financial institutions facing a crisis.”

The need for the legislative package stems from recommendations made by the World Bank and the International Monetary Fund back in 2018 within the Financial Sector Assessment Program.

The aim of the draft is to introduce effective crisis management mechanisms aligned with international standards in order to ensure the stability of the financial system.

Improvements in legislation are necessary to ensure the continuity of critical banking functions and the stability of the financial system in the event of bank failures, the official said.

The bill also proposes introducing a broad set of tools to carry out bank restructuring in a way that minimizes the need for extraordinary state support and protects public funds.

The bill was earlier endorsed by the Committee on Financial-Credit and Budgetary Affairs.

YEREVAN, 18 JUNE, ARMENPRESS. The Central Bank of Armenia informs “Armenpress” that today, 18 June, USD exchange rate up by 0.13 drams to 368.19 drams. EUR exchange rate down by 4.82 drams to 422.02 drams. Russian Ruble exchange rate down by 0.029 drams to 5.0067 drams. GBP exchange rate down by 6.64 drams to 487 drams.

The Central Bank has set the following prices for precious metals.

Gold price up by 90 drams to 51397 drams. Silver price down by 6.46 drams to 826.32 drams.

Four suspects have been arrested in an ongoing investigation into drug smuggling allegedly involving Iranian nationals, authorities have announced.

The State Revenue Committee said in a press release that it received information that an Iranian national had been plotting to smuggle 10 kg of marijuana across the land border into Armenia. Further investigation identified the suspects, who were already in Armenia. They were arrested by the Investigative Committee after being taken into custody at a hotel in Yerevan and were remanded in pre-trial detention by a court on drug smuggling charges.

The investigation later revealed that the alleged smugglers intended to sell 3 kg of the smuggled marijuana in Armenia to other accomplices. The two buyers, Armenian citizens, were also arrested.

Confiscations were made during searches.

To ease the impact of Russian import restrictions on Armenian goods, the government has introduced a new support program for greenhouse farmers.

The new relief program was adopted at a Cabinet meeting on Thursday.

Minister of Economy Gevorg Papoyan, while presenting amendments to the greenhouse farming development support program, noted that the discussion is driven by the need to provide additional benefits to businesses exporting greenhouse products in order to mitigate the impact of restrictions imposed by Russian authorities.

The minister said that within the greenhouse farming development support program in Armenia, 20 agreements have been signed, and greenhouse facilities covering 91.5 hectares have been established or are being established. Of these, 34.5 hectares have already been completed and have produced output this year.

“If, based on monitoring results conducted until July 1, 2026, the greenhouse has been built and has produced and sold agricultural goods during 2026, the draft proposes extending the maximum loan repayment period of eight years by six months, and, in addition to the existing 12-month grace period, providing an additional six-month grace period for both principal and interest payments,” Papoyan said.

He clarified that this applies to greenhouses for which the grace period has effectively already expired.

“We are proposing that these greenhouse farms will not pay principal and interest for the next six months, and this payment burden will be shifted to a later period. The government will continue to meet its obligations to banks,” the economy minister explained.

Papoyan specified that greenhouse operators can apply for these benefits until September 1 this year.

Prime Minister Nikol Pashinyan, commenting on the program, noted that monitoring shows the Armenian economy is demonstrating a fairly strong pace of adaptation.

“We want to encourage this adaptation through such programs, and this monitoring will continue,” Pashinyan said, urging businesses to take advantage of opportunities to access new markets.

The prime minister also once again called on businesses to take steps to bring product quality in line with standards, adding that products meeting standards will unquestionably receive state support.

Papoyan also reported that, for example, between June 1 and 17, flowers were exported from Armenia to Georgia, Uzbekistan, the UAE, Iran, Ukraine, Bulgaria, Cyprus, Latvia, Romania, the Czech Republic, Austria, the Netherlands, France, Belarus, and Kazakhstan.

Ahead of the parliamentary elections held on June 7, Russia imposed restrictions and bans on the import of numerous Armenian goods, which remain in effect today. The move prompted exporters to look for new markets, including in the EU. The EU has since announced support measures. European Commission President Ursula von der Leyen, following a phone call with Armenian Prime Minister Nikol Pashinyan, announced immediate financial assistance of more than €50 million, along with other support measures to facilitate trade, including steps to expand export opportunities for Armenian goods.

Russia has cited phytosanitary violations as the reason for the ban, which has been widely viewed by the EU as “economic coercion.”

Armenia’s international reserves have reached a record-high level, Vice Governor of the Central Bank Armen Nurbekyan told lawmakers.

“We have a record-high level of reserves this year. It is already more than approximately $5.7 billion,” he said at a plenary session of parliament.

According to him, the Central Bank has purchased around $1.1 billion in foreign currency this year alone.

“Only this year, we have already purchased approximately $1.1 billion in foreign exchange,” Nurbekyan noted.

NATO agreed on Thursday to modernize its nuclear capabilities and strengthen ‌its nuclear planning capacity, the alliance’s senior body for nuclear deterrence said in a statement.

All NATO allies except France ⁠are members of the Nuclear Planning Group, which serves as a forum for consultation and decision-making on nuclear deterrence, Reuters reported.

Defense ministers taking part in the meeting “recalled that the strategic nuclear forces of ‌the ⁠Alliance remain the supreme guarantee of Allied security and underpin NATO’s extended deterrence architecture,” the statement ⁠said.

“NPG Ministers agreed to continue enhancing NATO’s nuclear deterrence mission by modernizing ⁠NATO’s nuclear capabilities, strengthening its nuclear planning capacity, and adapting ⁠to achieve its security interests,” the group said.

Pentagon chief Pete Hegseth said during a meeting of NATO defense ministers that Europe should take responsibility for its own defense, while the United States will reassess its military presence in Europe over the next six months by conducting a corresponding review. The BBC reports that Hegseth also confirmed that the United States will reduce its participation in NATO Response Force units. The U.S. defense secretary once again stated that the United States wants Europe to invest more in its own defense and rely less on Americans. “Make no mistake, this will be a real review. It will be conducted in a way that allows Europe to play the leading role in assuming primary responsibility for its own defense,” Hegseth said.

The UK Ministry of Defence has announced that the United Kingdom will deliver 150,000 drones and 350 air defense missiles to Ukraine by the end of the year. RIA Novosti reports that the aid package for Kyiv will include, in particular, Martlet lightweight multirole missiles, LMM drones and ground-based radar systems. The total value of the assistance to be provided to Ukraine will amount to £752 million (nearly $1 billion). The package is part of the £2.26 billion loan announced by London in 2024. The United Kingdom is financing the assistance through profits generated from frozen Russian assets. The support package was announced by UK Minister for Defence Procurement and Industry Dan Jarvis during a meeting of NATO defence ministers and a meeting of the Ukraine Defence Contact Group in the Ramstein format.