Russia`s Security Council: Armenia`s withdrawal from the Eurasian Economic Union will not cause significant repercussions

ArmInfo. Armenia's withdrawal from the Eurasian Economic Union (EAEU) will not cause a significant stir, Alexey Shevtsov, Deputy Secretary of the Russian Security Council, stated during a panel discussion at the Eastern Economic Forum (EEF). "Yerevan's share of trade turnover in the Commonwealth is approximately 1%.

At the same time, during its decade of membership in the EAEU, Armenia has achieved significant economic growth. Specifically, the country's GDP increased by more than 180%, and industrial production grew 3.1-fold, effectively leading to the industrialization of the economy. This is precisely why Armenia's leadership is in no rush to leave the EAEU, Shevtsov continued. "Because, according to expert estimates, suspending participation could lead to increased inflation, a decline in consumption, and a general decline in living standards," the deputy secretary explained, according to news.ru.

It should be noted that Armenian Prime Minister Nikol Pashinyan, at a meeting with Russian President Vladimir Putin, reiterated that the republic's authorities believe Armenia's European aspirations do not conflict with its obligations to Russia and the EAEU.