Are There Risks of Armenia Suspending Its Membership in the EAEU? Peskov Responds

The integration of countries into the Eurasian Economic Union (EAEU) ensures accelerated development for the participant countries, and continuing this integration is in their interest. This is how Dmitry Peskov, the press secretary of the President of Russia, responded to a journalist's question about whether the Kremlin sees risks of Armenia suspending its membership in the EAEU.

“The integration process itself is very successful, providing accelerated development for the participant countries. And the participating countries know this. The share of this integration process in the annual GDP growth rates of the countries is undoubtedly very noticeable,” Peskov stated to reporters.

He added that it is in the interest of all participating countries to continue to develop this union.

It is noteworthy that 35 percent of Armenia’s economy is accounted for by its participation in the union. In 2023, Armenia's total trade turnover reached $20 billion, with 37 percent attributed to EAEU countries, 13 percent to the EU, and 3 percent to the USA.

Armenia has been a member of the Eurasian Economic Union since January 2, 2015. Currently, five countries are part of the EAEU: Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.