The figure amounts to roughly 1% of the countrys annual trade turnover with Russia, which remains Yerevans key economic partner

The EU is preparing a €50 million ($58 million) support package for Armenia as Brussels moves to shore up Prime Minister Nikol Pashinyan days before a critical parliamentary election, European Commission President Ursula von der Leyen has said. The figure, however, accounts for roughly 1% of Armenia's annual trade turnover with Russia, which remains Yerevan's key economic partner.

Von der Leyen made the announcement on Thursday following a call with Pashinyan, saying the package is also meant to ease trade for Armenian agricultural products hit by recent Russian restrictions. She accused Russia of "weaponizing economic relations for political pressure" and of "economic coercion."

The EU chief said a shipment of 10,000 Armenian flowers was due to arrive in Latvia, with further deliveries to follow.

Russia has recently imposed restrictions on some Armenian imports, a move which Moscow said was not political but rather linked to safety concerns sparked by seasonal harvest inspections.

Von der Leyen's pledge comes as Armenians are set to vote in parliamentary elections on June 7. Pashinyan's Civil Contract party - which has been pushing for closer integration with the EU while maintaining traditionally close relations with Russia - is polling at around 32%, while the Strong Armenia bloc, backed by Russian-Armenian billionaire Samvel Karapetyan, sits in second place at around 6%.

The EU's €50 million pledge, however, is dwarfed by Armenia's reliance on trade with Russia. Trade turnover between the two countries stood at roughly $6-8 billion in 2025, with Armenian goods exports to Moscow alone reaching approximately $2.9 billion.

Moscow also supplies Yerevan with natural gas at preferential terms, with Russian President Vladimir Putin noting that Armenia receives gas at $177.50 per thousand cubic meters, compared to a European spot price of around $600.

In addition, Armenia's trade turnover with the whole EU sits at approximately €2.5 billion, accounting for roughly 11% of the country's total international trade.

Putin has said Armenia has a sovereign right to choose its own direction, but warned Yerevan that it cannot simultaneously benefit from membership in the EU and the Eurasian Economic Union.

Armenian Foreign Minister Ararat Mirzoyan has said Yerevan is "not interested in cutting political, economic, or any other ties with Russia," and would "strive to maintain normal relations and deepen them."

(RT.com)