Russian Deputy Prime Minister Alexey Overchuk has said that trade turnover between Russia and Armenia fell sharply in 2026 compared with 2025 and is expected to continue declining.
According to Overchuk, bilateral trade in 2026 decreased by about two-thirds compared with the previous year and, by his assessment, the decline is likely to continue, TASS reported.
“The situation that has developed in relations between the Eurasian Economic Union and Armenia was predictable. Over the past three to four years, we have warned our partners in Armenia about these risks, particularly the risk of a decline in trade turnover,” the Russian deputy prime minister said.
Overchuk noted that trade between Russia and Armenia reached a record level of about $12 billion in 2024. According to his figures, it fell to around $8 billion in 2025, followed by a further sharp decline of about two-thirds in 2026 compared with the previous year.
He added that, given the current situation, it is clear that trade turnover will continue to decrease.
Russia has imposed restrictions on imports of a range of Armenian products. These include bans on imports of Jermuk mineral water, flowers, and certain alcoholic beverages. Restrictions have also been introduced on several agricultural products, including tomatoes, cucumbers, and strawberries. Since June 2, Russia has also restricted the import and transit to other Eurasian Economic Union member states of cherries, apricots, peaches, plums, grapes, and other stone fruits from Armenia. Since June 3, it has additionally restricted imports of eggplants, potatoes, and dried fruits originating in and exported from Armenia.
