Russia and Armenia Trade Plummets by Two-Thirds Amid Import Bans

Russian Deputy Prime Minister Alexey Overchuk announced that trade between Russia and Armenia has declined by approximately two-thirds in 2026 compared to 2025. Trade turnover, which peaked at $12 billion in 2024 and fell to roughly $8 billion in 2025, has experienced a sharp downturn following Russian import restrictions that began in May 2026.

Russian agencies, including Rosselkhoznadzor and Rospotrebnadzor, cited phytosanitary violations to ban Armenian flowers, produce, dairy, and mineral water. Russia also blocked the transit of Armenian goods to other Eurasian Economic Union (EAEU) countries. In response, Armenia banned the import of tomato paste from EAEU countries on August 4. Prime Minister Nikol Pashinyan has argued that these bans contradict bilateral agreements.

Economic tensions align with political friction, including Vladimir Putin's insistence that Armenia hold a referendum on joining the European Union. In a recent conversation with Valentina Matviyenko, Armenian Parliamentary Speaker Ruben Rubinyan expressed concern over the unjustified restrictions on Armenian exports and clarified that a referendum on EU membership would only occur after Armenia officially applies for membership and reaches an objective stage in the process.