Yerevan's trade with the European Union (EU) is several times less than with the Eurasian Economic Union (EAEU), and Armenia's trade with the EU is falling. This was stated to reporters by Russian Deputy Prime Minister Alexei Overchuk, TASS reports.

"The latest statistics for 11 months have arrived: the trade between Russia and Armenia is $11.6 billion, with the EAEU—about $12 billion. At the same time, [Armenia's] trade with the EU is much smaller and falling. This is what the economy and reality are talking about," Overchuk said, commenting on the approval by the Armenian government of the draft decision on the start of Armenia’s EU accession process.

"The initiators of the draft law on launching the process of joining the European Union are well aware that joining the EU is a very hypothetical thing, and of course, they do not want to lose the economic benefits and advantages they have as a member state of the EAEU," Overchuk said.