YEREVAN. – Past daily of Armenia writes: Past is getting information that some Russian circles want to open accounts in Armenia’s banks amid the Russian-Ukrainian conflict.

According to our sources, the banking system [of Armenia], which is quite stable, is in intensive preparations [in this regard].

On the other hand, information is circulating that a number of [Russian] businessmen want to move their businesses to Armenia.

In a conversation with Past, economist Vardan Bostanjyan informed that he was also aware of the relocation of businesses. "Certain mass see their work activity in Armenia—at least in the near future. And they will come. Any such reality is a factor aimed at increasing our [i.e., Armenia’s] GDP, which cannot be a negative circumstance. But, in any case, economic entities must have the necessary conditions to carry out activities [in Armenia].

It is also desirable that the [respective] activity is not commercial, but technological. If we give a little boost to technological activities in the conditions of that immigration, I will see positive trends from this point of view."

He also stressed that any activity with a devalued currency [i.e., the Russian ruble] will be vulnerable, and those who continue to work here [in Armenia], most likely, have calculated that risk by having [US] dollars or euros in reserve.

As for [their] opening [bank] accounts [in Armenia], the possible dangers of the mentioned, particularly from the point of view of our national currency, Bostanjyan noted that he does not see a big danger. "Of course, there may be some change in terms of our national currency. But that will be pushed to the background, taking into account the expansion of the above-mentioned activities, the increase of their amount."