FT learned about the EU's emergency measures to help Armenian trade

The European Union (EU) has begun urgently working on a package of trade support measures for Armenia in order to "compensate" for Russian export restrictions. This was reported on June 17 by the Financial Times newspaper, citing sources.

"The European Commission is developing so-called autonomous trade measures that will reduce tariffs on exports of Armenian food and agricultural products. This initiative is a response to Russian import restrictions," the article says.

The authors of the article note that as part of the support measures, the simplification of trade turnover with Yerevan is being considered for about 20 items of goods that Russia has imposed restrictions on. The EU expressed concern that measures of economic pressure on Armenia will increase and support for the republic is urgently needed.

Double game: how Pashinyan's new term is dangerous for Armenia

Opposition leaders have already been banned from leaving the country.

Earlier on June 10, the International Monetary Fund (IMF) approved the allocation of funds to Armenia in the amount of $25 million after the election victory of Nikol Pashinyan's party. It is noted that the Armenian authorities continue to consider this agreement as a precautionary measure. The IMF stressed that the Armenian authorities consider the program to be preventive and are not going to use the money unless absolutely necessary.

Professor of the Department of International Economic Relations of the RUDN University. Patrice Lumumba's Anna Pak reported on May 18 that Armenia's withdrawal from the EAEU could negatively affect the country's economy, lead to lower exports and higher business costs.

The news is being updated