Russia-Armenia trade drops 66% in 2026

Overtchuk: Russia-Armenia trade turnover has dropped by two-thirds.

Consensus

The trade volume between Russia and Armenia in 2026 decreased by approximately two-thirds compared to 2025.
The trade volume between Russia and Armenia reached a peak of $12 billion in 21024.
In 2025, the trade volume was approximately $8 billion.
The decline in trade is considered predictable by Russian officials.
Russia has imposed import restrictions on certain Armenian agricultural products, including fruits, vegetables, dairy, and alcohol.
The restrictions are officially justified by Russian authorities as related to phytosanitary concerns.
The share of Russia in Armenia's total trade volume has decreased from 35.1% in 2025 to 28% in 2026.
The share of Russia in Armenia’s trade with the EAECS has declined from 36.3% to 29.4% in 2026.
Russian officials have stated that the situation with Armenia and the EAECS was foreseeable and risks were previously communicated to Armenian counterparts.
The decline in trade coincides with a deterioration in diplomatic relations between Russia and Armenia.

The trade volume in 2026 fell by two-thirds compared to the previous year, and the decline will continue. — kommersant
The trade volume fell by more than 30% in 2025 and continued to decline in 2026. — vedomosti
The trade volume in 2026 dropped by two-thirds compared to 2025. — interfax
The trade volume fell by 20.9% in the first half of 2026 compared to the same period in 2025. — vesti
The trade volume in 2026 declined by two-thirds compared to 2025. — m24
The decline is linked to the worsening of diplomatic relations between Moscow and Yerevan, including the European Political Community summit where Ukrainian President Zelensky spoke and made threats against Moscow. — vedomosti
Japan's trade with Russia in May 2026 increased by 5.76%, but imports of Russian LNG, coal, iron, and steel decreased. — m24