July 07
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Against the backdrop of the Russian-Ukrainian conflict, Armenian Economy Minister Vahan Kerobyan announced in mid-April that Yerevan had begun making payments for Russian gas in rubles.

In a conversation with Armenian correspondent, economist Hrant Mikaelyan noted that the decision to switch to ruble gas payments is connected with geopolitical processes. It was a proposal from Russia, Armenia did not oppose and accepted Moscow's proposal.

“On the one hand, Armenia had no alternative, on the other hand, if the price is unchanged, then there is no difference between ruble and dollar payments.

The question is how the price will be calculated, whether the calculation will be long-term, at what price Armenia will be calculated. Considering that in the long term the ruble devalues ​​faster than the Armenian dram, this may be to Armenia's advantage. But if the ruble undergoes a revaluation, then the price of gas may rise. There is no unequivocal answer about the impact of the transition to ruble payments for gas.

For a number of important factors, Armenia is just an observer, they do not depend on Yerevan.

As for the return to dollar payments, it will be difficult to do this: since the transition to ruble payments was associated with geopolitical processes, the reverse transition can also be associated with geopolitical processes. The decision will not be made immediately. Figuratively speaking, it is easier to enter this river than to leave it,” the expert noted.

Karen Adonts, Doctor of Economic Sciences, in an interview with Armenian, believes that the transition to ruble gas payments for Armenia will not be of serious importance, since the country receives both the ruble and other foreign currencies in sufficient quantities: the dollar, the euro and the ruble is balanced.

“It doesn't matter to us what currency to pay in. The return to dollar payments depends on the geopolitical situation and the global economy. It all comes down to the fact that Russia is trying to solve the problems of its financial stability, and it seems to be succeeding. This strengthens the ruble to some extent, which will have a favorable effect on us, since Russia is Armenia's major trading partner. Armenian exporters benefit from a situation in which the ruble does not devalue,” the economist noted.

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