European Commission President Ursula von der Leyen has accused Russia of exerting significant economic pressure on Armenia and pledged increased European Union support to help the country diversify its exports and reduce its dependence on the Russian market.
Speaking at a joint briefing with Armenian Prime Minister Nikol Pashinyan in Yerevan on Thursday, von der Leyen said Armenia was facing “substantial economic pressure from Russia, almost coercion”, News.Az reports, citing News Armenia.
“When pressure on our partners increases, the European Union stands by them,” she said.
Von der Leyen announced that the EU would allocate €18 million to help establish an Armenian export agency as part of a broader €52 million assistance package.
She said the initiative aims to redirect the bulk of Armenia’s agricultural and alcoholic beverage exports, previously destined for Russia, to European markets.
“Our goal is to redirect between 80 and 90 per cent of Armenia’s agricultural products and alcoholic beverages that were previously exported to Russia towards the European market,” she said.
Von der Leyen added that flower exports had become “a beautiful symbol” of the new phase in EU-Armenia relations.
To accelerate the diversification process, she said, a team of EU experts would travel to Armenia later this month to work with local exporters and help them take full advantage of the opportunities offered under the bloc’s preferential trade arrangements.