YEREVAN. – The Eurasian Union has not made Armenia rich, but rather Russia, first and foremost.

Economist Vilen Khachatryan stated the aforementioned at a press conference on Tuesday.

“The [Armenian] authorities were telling us that exports from Armenia to Russia would increase,” Khachatryan said. “But everything is just the opposite; it reduced in 2015. And Russia uses the Eurasian Union to keep its economy, on the account of countries like our country.” 

According to the Armenian National Statistical Service data, Armenia’s imports from Russia dropped by 10.7 percent, and down to $810.5 million, from January to October. And Armenia’s exports fell by 29.4 percent, down to $179.1 million.