The European Union has announced an additional €18 million in economic assistance for Armenia and eased export rules for Armenian goods as part of efforts to strengthen ties with the South Caucasus nation. The support comes as Armenia faces increasing trade restrictions from Russia, which have affected key exports including fresh produce, flowers, fish, and alcoholic beverages. The latest funding forms part of a broader €52 million assistance package unveiled earlier this year.
During a visit to Yerevan, European Commission President Ursula von der Leyen assured Armenian Prime Minister Nikol Pashinyan that the EU would stand by Armenia despite external economic pressure. She said the bloc would remove tariffs on nearly 80% of Armenian exports, giving businesses easier access to the European Union’s market of around 450 million consumers. Von der Leyen emphasised that the EU would continue supporting partners facing economic challenges.
The announcement reflects Armenia’s growing efforts to strengthen relations with the European Union while maintaining its position in the Russian-led economic union. Russia remains Armenia’s largest trading partner, accounting for about 35% of its foreign trade, while the EU represents around 11%. The EU also reaffirmed its commitment to promoting peace and regional connectivity in the South Caucasus through investments in transport, energy, and digital infrastructure.
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