Armenia’s gas import bill could rise by 69% to $657.7 million a year, or more than 54 billion rubles, if the country suspends its participation in the Eurasian Economic Union. The forecast appears in a report by members of the Eurasian Intergovernmental Council from Belarus, Kazakhstan, Kyrgyzstan and Russia.
The report’s authors examine the consequences of suspending the application to Armenia of the Treaty on the Eurasian Economic Union, dated May 29, 2014. They predict that Armenia’s economic indicators would deteriorate, while the economic impact on the union’s other members would be insignificant.