EAEU member states, in accordance with international law, may decide to temporarily suspend Armenia’s participation in the Union, given the dangers stemming from Yerevan’s actions.
This is stated in the joint report of the members of the EAEU intergovernmental council of Russia, Belarus, Kazakhstan and Kyrgyzstan on the possible consequences of suspending the operation of the treaty on the Eurasian Economic Union with respect to Armenia.
“According to forecast estimates, the suspension of participation in the EAEU will lead to a deterioration of the economic indicators of the Republic of Armenia. Armenia’s total goods turnover with EAEU member states will decrease by more than 55 percent. Exports of goods from Armenia to EAEU member states will be cut by more than 65 percent, while imports of goods from EAEU member states will fall by almost half.
Gas imports by the Republic of Armenia will grow in value terms by $268.5 million or 69 percent, rising from 389 to $657.5 million,” the document says.
It is explained that the estimate of gas imports by the republic from EAEU member states is based on a price of $300 per thousand cubic meters, if the physical volume of supplies is maintained.
“Compared with the current base price of $177.5 per thousand cubic meters, the price increase will amount to about 69 percent,” the report adds.
