Shoigu says decline in Russian tourists could cost Armenia $1.5B

A reduction in the number of Russian tourists visiting Armenia could cause losses of up to $1.5 billion for the country, Russian Security Council Secretary Sergey Shoigu said.

According to him, the European Union would not be able to compensate for these losses.

“The EU will only be able to allocate small amounts for projects that are beneficial to itself, for example its own propaganda,” he said.