Armenian exporters who were supposed to receive money from Russia found themselves in a force-majeure situation as soon as the Russian ruble was devalued. This is what President of the Union of Employers of Armenia, economist Gagik Makaryan told reporters today.

According to the economist, those exporters are worried, just like they were worried back in 2014.

“The fall of oil prices may lead to low prices of oil products in Armenia, but that impact on the Russian ruble is the most dangerous for Armenia,” the economist explained, adding that the low prices of oil products won’t be an adequate response to the devaluation of the Russian ruble since Russia is Armenia’s key partner in exports.