The European Union pledged an additional €18 million in economic support for Armenia on Thursday and liberalised some export rules for its goods as Brussels seeks to shore up support for the South Caucasus country amid Russian trade pressure.
Moscow imposed wide-ranging trade restrictions on Armenia in the lead-up to a parliamentary election in June, which saw the incumbent Civil Contract party clinch 49.8% of the votes.
Russia accused the West of interfering in the vote, and joined Armenia’s opposition in alleging election violations.
The restrictions from Moscow — imposed as Armenia has sought closer ties to the West and membership of the EU — have hit many key Armenian exports, including fresh produce, flowers, fish and alcoholic products.
Armenia is a member of a Russian-led economic union, and Moscow accounted for about 35% of Armenia’s foreign trade last year, compared with 11% for the EU, according to government statistics.
On a visit to the Armenian capital Yerevan on Thursday, European Commission President Ursula von der Leyen told Prime Minister Nikol Pashinyan that Brussels would boost its support and help bring Armenian goods to European markets faster.
“I know Armenia is still facing significant economic pressure from Russia,” von der Leyen said. “But rest assured: when pressure mounts on our partners, the EU steps up… You can count on us.”
Von der Leyen said the EU would remove tariffs from nearly 80% of Armenian exports heading to the EU, streamlining access to the bloc’s roughly 450 million consumers.
The €18 million disbursement announced on Thursday is part of a broader €52 million package the EU drew up for Armenia in early June.
On a visit to Azerbaijan on Wednesday, von der Leyen said Brussels had pledged €200 million in grant funding to boost transport, energy and digital links across the South Caucasus that is designed to support peace between Azerbaijan and Armenia after nearly 40 years of war.
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Source: Reuters
