Russian President Vladimir Putin stated that if Armenia begins transitioning to European Union (EU) standards, its integration processes with the Eurasian Economic Union (EAEU) could effectively be halted, SİA informs via Russian media outlets.
Speaking to journalists, Putin said that Moscow would have to significantly reduce economic cooperation with Yerevan within the EAEU, as this would affect the main directions of integration.
Russian leader noted that preferential energy tariffs are not the only advantage of Armenia's membership in the union, emphasizing the important role of Russian capital in the country's economy, which he said accounts for more than 86%.
The president further added that if Armenia were to leave the EAEU, railway transportation tariffs would be adjusted to Russia's domestic levels, and Armenian citizens would be subject to the general migration rules applied to foreign nationals.
Putin also warned of possible economic consequences, stating that if energy prices change, Armenia could face the risk of losing approximately 14% of its GDP.
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