EU Prepares €50 Million for Armenia as Russia Tightens Trade Restrictions
Updated
Updated · Reuters · Jun 4
EU Prepares €50 Million for Armenia as Russia Tightens Trade Restrictions
3 articles · Updated · Reuters · Jun 4
Summary
An initial €50 million EU support package is being readied for Armenia after Russia imposed fresh trade restrictions, European Commission President Ursula von der Leyen said.
Von der Leyen said she discussed the measures with Prime Minister Nikol Pashinyan and called Moscow's actions "economic coercion" aimed at exerting political pressure.
The restrictions include expanded limits on Armenian exports, which the EU chief said showed Russia was weaponising economic ties against a neighboring state.
The move signals Brussels is positioning itself as an economic backer for Armenia as Yerevan faces renewed pressure from Moscow.