In its Cabinet session Thursday, the Armenian government made a decision to apply a temporary ban on the exports of a number of goods from Armenia to countries that are not members of the Eurasian Economic Union (EAEU).

With this decision, a 6-month ban is imposed on the export of a number of agricultural products including wheat, meslin, barley, corn, buckwheat, sunflower seeds, and sunflower oil.

The decision is aimed at ensuring the food security and economic stabilization of Armenia.

The domestic production does not meet the demand of the Armenian market in terms of the aforementioned products, which is provided mainly on the account of imports.

According to the decision of the Armenian government on June 29, a 6-month export ban was set, which will end on January 2, 2024. This draft decision proposes to extend this export ban for another 6 months, until July 2, 2024.

The exports from Armenia to third countries is either absent or insignificant in terms of these products, and therefore the adoption of this decision will not have a significant impact on the country's agricultural producers.

With the adoption of this draft decision, the export regulation measures applied unilaterally by the EAEU member states will be approximated in terms of sensitive products, and this will ensure the uninterrupted operation of the single Eurasian Economic Union market under the current global anti-crisis situation and the increase in international food prices.