BAKU, Azerbaijan, October 3. Russia is evading sanctions it faces over Ukraine through Armenia, Chairman of the Economics International Research Public Union Fikrat Yusifov said at a briefing on the economic analysis of Armenia's suspicious import-export operations, Trend reports.
According to the analyst, Russia is using the funds it earns through import-export operations through Armenia to carry out attacks against civilians in Ukraine.
He noted that one of the main financial sources of Russia's war in Ukraine is the import-export operations it carries out via Armenia.
“The enforcement of international sanctions against Russia and the surge in Armenia’s foreign trade turnover are closely connected - one is the cause, the other is the effect. According to data published by Armenia’s National Statistical Committee and international organizations, over the past five years, Armenia’s foreign trade turnover has increased 4.2 times, growing from $7.1 billion to $30.2 billion.
If in 2021 Armenia imported only $1.8 billion worth of goods from Russia, by 2024 this figure had risen by 5.1 times or $7.4 billion to reach $9.2 billion. Of this, $6.9 billion, or 75 percent, accounted solely for products such as precious or semi-precious stones and precious metals,” the analyst explained.
According to Yusifov, analyses by the Economics Research Public Union reveal that the precious and semi-precious stones and precious metals imported in large volumes by Armenia from Russia are not intended for domestic consumption but rather for export to third countries.
“How can the impoverished population of a country that suffered a crushing defeat in the 44-day war of 2020 and whose economy collapsed suddenly afford to purchase such quantities of jewelry and precious stones from abroad? With what funds?! This is a laughable falsification, a veiled economic operation, and the result of a deal between the two countries.
Russia uses the funds it earns through import-export operations via Armenia to finance its attacks on civilians in Ukraine. This cannot be hidden. Armenia re-exports these goods, imported from Russia, to other countries under the label of being domestically produced.
If Armenia’s exports of goods such as precious and semi-precious stones and precious metals amounted to only $368.8 million in 2020, this figure surpassed $8.4 billion in 2024 - a 23-fold increase over five years.
Thus, Armenia imports sanctioned goods from Russia and exports them to third countries by concealing their origin and labeling them as domestic products, thereby openly facilitating Moscow’s evasion of sanctions,” Yusifov emphasized.
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