The European Union has announced an additional €18 million ($20.5 million) in economic assistance for Armenia and moved to ease export rules for Armenian goods, as Brussels seeks to strengthen ties with the South Caucasus country amid growing Russian trade pressure.
The announcement came during a visit to Yerevan on Thursday by the European Commission President Ursula von der Leyen, who met Armenian Prime Minister Nikol Pashinyan.
The new €18 million disbursement forms part of a broader €52 million ($59.3 million) EU assistance package agreed earlier in June.
Brussels also said it would remove tariffs on nearly 80 per cent of Armenian exports to the EU, significantly improving access to the bloc’s market of around 450 million consumers.
Von der Leyen said the measures are intended to help Armenian businesses reach European markets faster and reduce economic pressure on the country.
“I know Armenia is still facing significant economic pressure from Russia,” she said. “But rest assured: when pressure mounts on our partners, the EU steps up.”
The move comes after Moscow imposed wide-ranging trade restrictions on Armenia ahead of a parliamentary election in June, in which the ruling Civil Contract party secured 49.8% of the vote.
Russian authorities accused Western actors of interference in the election, while also echoing claims from Armenian opposition groups regarding alleged voting irregularities.
The restrictions have affected several of Armenia’s key export sectors, including fresh produce, flowers, fish and alcoholic products.
Armenia remains part of a Russian-led economic bloc, and Russia accounted for roughly 35 per cent of the country’s foreign trade last year, compared with 11 per cent for the European Union.
The support for Armenia is part of a wider EU strategy to deepen engagement in the South Caucasus, a region where geopolitical competition has intensified.
During a separate visit to Baku on Wednesday, von der Leyen announced €200 million ($228.2 million) in EU grant funding aimed at strengthening transport, energy and digital connectivity across the region.
The initiative is intended to support long-term stability and improve relations between Armenia and Azerbaijan following decades of conflict between the two countries.
U.S. efforts to squeeze Iran’s economy through an oil blockade and sanctions are becoming increasingly difficult for Tehran to withstand, acc...
U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citi...
The 83rd Venice Film Festival has opened on the Lido, bringing Hollywood stars and leading filmmakers together for a programme dominated by war, po...
Russian President Vladimir Putin has said that he thinks there is a chance of a peace being reached with Ukraine. He told the Eastern Economic Forum in Vladivostok, Russia that he believed there was "a chance of finding a solution," to the conflict.
The Iranian Health Ministry said at least 18 people were killed and 142 others injured in U.S. airstrikes carried out between 30 August and 2 September.
U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citing an unnamed source. Ukrainian President Volodymyr Zelenskyy has also said American envoys will visit the capitals of both countries.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 3rd of September, covering the latest developments.
The Iranian Army has again struck at U.S. bases in Kuwait and the United Arab Emirates in retaliation for U.S. attacks on southern and western parts of Iran late on Tuesday, which reportedly killed 18 people and injured more than 100 others.
A unique architectural monument dating back to the 9th to 12th centuries has been discovered in the village of Gargara, in the Korez village commune in Dangara district in Tajikistan.
Japan and the UN Office on Drugs and Crime have launched a $9.4 million, two-year project across five Afghan provinces to help former poppy-growing families and expand drug prevention and treatment services.
For centuries, Lahore has been shaped by the people, cultures and empires that passed through it. Now, the Pakistani city is preparing to put that rich history before a wider regional audience.
Israel is ready to move Palestinians from Gaza as soon as the U.S. approves, the country’s Defence Minister Israel Katz has said. He told a conference hosted by Israeli newspaper Yedioth Ahronoth on Wednesday that there was “no real solution” for Gaza without migration.
Flights between Central Asia and Russia have faced widespread disruption, with aircraft diverted, turned back or cancelled amid restrictions in Russian airspace and conflicting claims from Moscow and Kyiv over aviation safety.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment