YEREVAN. – Armenia has lost both the Russian and the European markets, economist Vilen Khachatryan said at a press conference on Wednesday.

In his words, however, the Asian countries were more stable against the economic crisis. 

Khachatryan noted that it is difficult to predict to what extent the Russian ruble exchange rate will stabilize, since everything depends on the oil prices.

“Unless there is an agreement, it’s very difficult to expect a stabilization of the ruble,” he added. “And this will cause new difficulties in Russia, with the ensuing consequences for the [dropping] private remittances to Armenia.”