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Armenian oligarchs profit from Russian sanctions

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Oligarchs serving Nikol Pashinyan are earning billions through sanctions imposed on Russia. In this context, how could Nikol Pashinyan withdraw Armenia from the CSTO? After all, leaving the CSTO would automatically exclude Armenia from the EAEU as well.

Axar.az reports that Armenian political analyst Grigor Balasanyan shared these views in an interview with local media.

"I don't believe Pashinyan will leave the CSTO because such a move would immediately bring the issue of withdrawing from the EAEU to the table. Leaving the EAEU would mean depriving Armenia of vital financial flows," he said.

Balasanyan explained that sanctions against Russia are bringing Armenia significant financial benefits:

"Armenia’s major oligarchic circles are receiving substantial financial flows through the EAEU's import-export opportunities, including gold trade. Exiting the EAEU would mean losing a vast market for Armenia. This would also involve challenges related to nuclear power plants and gas supplies. How could we handle all of this?"

Date
2025.01.05 / 12:10
Author
Axar.az
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