Armenia Can Import 8,000 Electric Vehicles Duty-Free

Armenia will be able to import 8,000 electric vehicles duty-free during the years 2024-2025. This decision was made during a recent meeting of the Eurasian Economic Commission council held in Moscow, which was attended by Armenia’s Deputy Prime Minister Mher Grigoryan.

It is noteworthy that Armenia received a duty-free quota for electric vehicles (more accurately, vehicles with electric engines, including electric motorcycles) in 2022, initially allowing for 7,000 imports. In 2023, the quota was increased to 8,000. However, Armenia did not fully utilize these quotas; around 2,680 electric vehicles were imported in 2022, and nearly 4,500 have been brought in since the beginning of 2023.

The increase in imports is evident, along with the development of the service sector (charging stations for electric vehicles have started to be produced in the country). According to the decision of the EAEU Council, the duty-free import of electric vehicles has been approved for all EAEU member countries until the end of 2025, with the exception of Russia. Vehicles imported to the other four countries of the union will be taxed if sold to Russian citizens or residents.

The government of the Russian Federation has opted out of duty-free imports to develop its own production. Russian Deputy Prime Minister Alexey Overchuk announced today that Russia will soon be able to meet the demand for electric vehicles both for itself and for EAEU countries, with plans to expand production to other countries in the union.