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According to Meduza, citing Kommersant, if the agreement is terminated, Armenia will probably have to compensate Russia for the lost revenues. The unpaid amounts may be recognized as a state debt to Russia.
Experts note that the rejection of the agreement will increase the risks for the Armenian economy. Now the republic receives from Russia about 85% of imported gas, at least 62% of oil products and about half of rough diamond supplies. It will be difficult to quickly replace such volumes.
In recent years, Yerevan has intensified cooperation with the European Union and the United States. The Armenian authorities expect to achieve a visa-free regime with the EU within two years, and in 2025 the country’s parliament passed a law to start the EU accession process.
Armenia’s rapprochement with the West accelerated after relations with Russia deteriorated amid the conflict with Azerbaijan. Yerevan has repeatedly stated that Moscow has not provided the country with the expected security support.
