Russia is taking a practical approach to Armenia's position on the Eurasian Economic Union, said Russian Deputy Prime Minister Alexey Overchuk.

"We [i.e. Russia] are taking a purely practical approach to this: if you (Yerevan) are in an alliance with Russia, then you have certain economic advantages," Overchuk told RIA Novosti news agency on the sidelines of the St. Petersburg International Economic Forum.

"And if you decide to go to another alliance [i.e. the European Union], why should we [i.e. Russia] pay for it?" he added.