Trade between Armenia and Russia has exceeded $12 billion. Russian foreign minister Sergey Lavrov announced this at a press conference held in Moscow with his visiting Armenian counterpart, Ararat Mirzoyan, on Tuesday.

One billion dollars a month is an unprecedented indicator, Lavrov emphasized, noting that Russia remains Armenia's key trade partner.

Also, the Russian FM reminded that Russian companies are the leaders of tax payments to the Armenia’s budget and are among the largest employers in the country.

"Russian business is interested in expansion, and we highly appreciate the treatment of Armenia’s leadership towards Russian businessmen," added Lavrov.

According to the Russian FM, cooperation within the Eurasian Economic Union (EAEU) plays a positive role in reaching the indicated trade figures .

"Statistics show that the EAEU has become one of the foundations of the socioeconomic development of the Russian Federation and Armenia, a factor of stable economic growth in the context of a severe international unrest," Lavrov continued.

Also, he welcomed Armenia's successful chairmanship of the EAEU last year.

"At the meeting [with the Armenian FM], we discussed also practical cooperation within the framework of other associations of which Armenia and the Russian Federation are members," the Russian FM concluded.