Presently, it is not an easy task to predict who will suffer more from the sanctions applied against Russia – Russia itself or the countries of the European Union, the economist Karlen Khachatryan thinks. During the last three years Russia’s foreign income decreased for $70 billion and surely, this cannot go under the radar of Russia’s economy. However, Russia did not make the West wait long for its counteraction. “The West tried to make a serious blow on Russia’s economy and the latter reacted with no less strict action,” the economist says.
Karlen Khachatryan hesitated to predict how long this situation will last, however, through his assessment, the situation may last as long as the domestic resources of the countries allow solving certain problems. “The country, having faced constraints of resources will first make a compromise expecting the same from the opposite side”.
All this will, no doubt, affect our country as well, as Russia and EU Countries are the first and foremost trade-economic partners. “This effect will be visible already from September, and it will be of negative character – drop of transfers the majority of which flows to our country from Russia and EU and when there are economic problems these countries this will, now way, get around the course of incoming transfers to Armenia,” Karlen Khachatryan said.
On the other hand, the economic analyst believes that Armenia may also benefit from this situation taking into account the fact that Russian agricultural market will become empty and dismissed of competitors and Armenia can definitely fill in that gap.