Armenia benefiting from war in Ukraine

Armenia is benefiting from the war in Ukraine, helping the Russian Federation bypass Western sanctions, reads an article published on the Euronews website, Report informs.

Despite not being a direct participant in the conflict, Armenia's economic connections to Russia have become a focal point of criticism, especially regarding the re-exportation of commodities and the facilitation of trade between sanctioned Russian entities and the international market. Armenia's economic relationship with Russia has flourished, particularly in the aftermath of Western sanctions on Russia due to the Ukraine invasion, according to the article.

"Russia reported strong growth in trade between the two countries, noting that it hit $7.4 billion last year and increased 2.5 times in the first half of this year, surpassing $8.3 billion. It is estimated that the trade volume could reach $14-$16 billion by the end of this year if the current pace continues.

This rapid expansion could be interpreted as Armenia leveraging its status as a re-export hub, allowing Russia to bypass Western sanctions imposed due to the invasion of Ukraine.

Armenia elevation to a prominent role in the geopolitical sphere, has indirectly bolstered Russia’s economic resilience under sanctions. While Armenia is focused on advancing its own national interests, this dynamic raises concerns on the undermining of global efforts to isolate Russia.

By permitting re-exports and sustaining robust trade relations, Armenia helps lessen the impact of sanctions, allowing Russia continued access to restricted goods and technologies.

Thus, Armenia is probably actively engaged in re-exporting Russian gemstones and gold. In 2023, Armenia exported 4.5 million carats worth of diamonds, which is 30 times more than produced in the republic itself," the author wrote.

"Armenia’s close ties with Russia have not gone unnoticed, though the Western response has remained relatively subdued. Behind the scenes, well-organized lobbying efforts, likely driven by influential elites and supported by major PR and communication firms, seem to be playing a significant role.

This successful lobbying campaign highlights a broader issue: Armenia's ability to maintain crucial relationships with both the West and Russia, manipulating Western perspectives on its economic interactions with Russia.

As a result, it becomes increasingly difficult to distinguish whether Armenia's diplomatic efforts are genuinely sincere or opportunistic maneuvers designed to capitalize on global instability, particularly in the context of the Ukraine conflict."