Moscow and Yerevan to lose $6B in mutual trade by year-end, says Overchuk

Russian Deputy Prime Minister Alexey Overchuk has said Russia and Armenia are expected to lose $6 billion in mutual trade by the end of the year.

“By the most conservative estimates, we lost about $2 billion last year. This year, as of now, our decline stands at $3 billion. It is clear that by the end of the year, we will have lost approximately $6 billion. These are significant figures,” Overchuk said during the Russia-Armenia Business Dialogue held at the St. Petersburg International Economic Forum.

The event is taking place from June 18 to 21, with this year’s main theme focusing on common values as a foundation for growth in a multipolar world.