EU preparing over €50M for Armenia, planning to buy goods blocked by Russia

The European Union is preparing more than €50 million in financial assistance for Armenia and will begin purchasing Armenian goods whose imports have been blocked by Russia ahead of the country’s parliamentary elections.

European Commission President Ursula von der Leyen made the announcement on Thursday following a phone call with Armenian Prime Minister Nikol Pashinyan, Ukrinform reports.

“Today I spoke with Prime Minister Nikol Pashinyan about Russia's recent restrictions targeting Armenia. This is nothing short of economic coercion, and it is unacceptable. By extending export restrictions on Armenian products, Moscow is weaponising economic relations for political pressure. We know this playbook all too well. This is why Europe stands firmly with Armenia. We are preparing an EU support package. It includes immediate financial assistance, worth over 50 million euro,” von der Leyen said.

She added that EU assistance will also cover the purchase of Armenian products, which Russia has restricted based on questionable claims.

Von der Leyen also stated that Armenia has the potential to become a strategic hub linking Europe, the South Caucasus, and Central Asia.

As previously reported, Russia’s consumer watchdog in May banned the import of Armenian brandy and wine, labeling the products as substandard and ordering their withdrawal from circulation.

Parliamentary elections in Armenia are scheduled for Sunday, June 7.

Photo: European Union