YEREVAN. – Even though ruling Republican Party of Armenia MP—and businessman—Hakob Hakobyan has always been a supporter of the country’s accession into the Russia-led Eurasian Economic Union (EEU), he is unable to point out its results for Armenia’s economy, ever since the country’s nearly one-year membership in this organization.

“The Russian ruble continues to depreciate for over a year, and this has a huge negative impact on our republic,” Hakobyan told Armenian News-NEWS.am.

In his words, he can make assessments solely when the ruble regulates.   

And reflecting on the current economic sanctions between Russia and Turkey, the businessman MP said Armenia can benefit from the Russian market only if these sanctions are long term.

“There is a large amount of Turkish goods in the Russian market; now, there won’t be, [and] the market will open up,” Hakob Hakobyan noted, in particular. “But we all know it’s impossible to produce and enter the market immediately. If these sanctions become long [term], we [i.e. Armenia] will have a place in the Russian market, [but] to our extent.”