Armenia's trade turnover with the EAEU will decrease to $3.5 billion if membership is suspended there.

Armenia's trade turnover with the Eurasian Economic Union (EAEU) will be halved (to $3.5 billion) if its membership in the relevant organization is suspended. This was confirmed on October 20 by a report on the possible consequences of the suspension of the EAEU Treaty in relation to Armenia.

Such forecasts were made by the Russian Federation, Belarus, Kazakhstan and Kyrgyzstan, which now, as emphasized in the joint statement, are unclear about Armenia's status in the union. It is indicated that she plans to benefit from both the EAEU and the European Union (EU), which she intends to join. The relevant actions, as specified, will present many legal and practical problems in the future, in particular, pricing.

"Joining one of the integration associations while maintaining membership in the other, as well as the introduction of a legal regime different from the already accepted supranational obligations, inevitably cause insoluble legal conflicts and are not possible from both legal and practical points of view," the document says on the website of the Government of the Russian Federation.

Yerevan's plans, according to the authors of the forecast, will primarily affect itself, since if the EAEU is lost, its economic performance may deteriorate due to the restoration of customs control and changes that will occur in interstate energy cooperation. At the same time, his departure will not significantly affect other members of the union.

It is expected that the report, which outlines all the consequences of Armenia's possible withdrawal from the EAEU, will be submitted for review to Russian President Vladimir Putin, Belarusian leader Alexander Lukashenko, President of the Republic of Kazakhstan Kassym-Jomart Tokayev, Head of the Kyrgyz Republic Sadyr Japarov and Prime Minister of the Republic of Armenia Nikol Pashinyan.

Window to Europe: EU opens market for Armenian goods

The measure is designed to support Yerevan against the background of declining exports to Russia

On September 1, Putin, meeting with Pashinyan, asked him to give the Armenian people the opportunity to resolve the issue of joining the EU themselves. At the same time, he warned that in the event of the republic's withdrawal from the union, it should prepare for possible problems in trade due to differences in the regulation of agricultural products, technical requirements and standards of the EAEU from the EU.

Three days later, Pashinyan stated that his country does not intend to abandon the law on the beginning of EU accession. Speaking about this, he noted that Yerevan allegedly strengthened its position in the international arena and achieved success in foreign policy.