According to official data, the individuals’ non-commercial remittances to Armenia from Russia have reduced by USD 10.9 million, or by 6.9 percent, on an annual basis.

In September alone, the negative reality of the “Russian” transfer of funds has resulted in a 6.1-percent slowdown in the dynamics of the total amount of remittances to Armenia. 

But if we rule out Russia, we will see that the foreign remittances to individuals in Armenia have increased by close to USD 1.7 million, or by 7.4 percent.

Nonetheless, Russia’s role in this domain is indisputable. And despite a 1.6 percentage point drop in its share of the total remittances to Armenia, this indicator is beyond competition, with about 86 percent of the total money transfers.