MOSCOW (Pakistan Point News / Sputnik - 15th September, 2022) Western sanctions help strengthen ties between Moscow and Yerevan, Russia-Armenia trade has grown by more than 40 percent in six months, Denis Gonchar, director of the Russian Foreign Ministry's Fourth CIS Department, said in an interview with Sputnik.
"The unilateral restrictions of the West only pushed (Russia) for consolidation of cooperation with Yerevan. We note a solid increase in trade, including exports and imports, by 42% ($1.6 billion) in the first six months, which is a record high over the past few years," Gonchar said.
He said Russia remains Armenia's leading trade and economic partner, as well as the largest investor in the Armenian economy: the overall volume of Russian investments has exceeded $2 billion.
"And this is far from the limit. The main indicators of bilateral trade may increase significantly in the near future. There are specific plans to increase cooperation in the energy sector, including the nuclear and mining industries, transport, and logistics," Gonchar said.�
