Russia could do more to help Armenian economy; Russian expert

YEREVAN, February 10. /ARKA/. A Russian political analysts said Russia could do more to help Armenian economy. Andrei Ryabov, a leading researcher at the Institute of World Economy and International Relations, chief editor of "World Economy and International Relations’ magazine of the Russian Academy of Sciences and an expert for the Gorbachev Foundation and the Moscow Carnegie Fund, said during an online interview that the level of relations between Armenia and Russia is high, especially in political and military spheres, but in terms of economy Russia could do more to help Armenian economy to move forward, first of all, by investing in projects promised by Russia, which still remain on paper.

The expert commented on the possibility of the Armenian-Russian cooperation in the implementation of major projects, in particular, in construction of new a nuclear power plant and the Iran-Armenia railway.

"As for the railroad, it seems to me there is lack of interest towards it, mainly for economic reasons. Tension around Iran reinforces these sentiments’ said Ryabov.

According to him, the more difficult is the situation regarding Armenian government’s plan to replace the aging Metsamor NPP with a new unit. 

"There are many arguments for and against which are well known in Armenia. I think that much will also depend on Rosatom’s performance in fulfilling its contracts abroad. If the portfolio of its orders decreases, the interest in nuclear power plant in Armenia will only increase," he said.

The Armenian Metsamor nuclear power plant is located some 30 kilometers west of Yerevan. It was built in the 1970s but was closed following a devastating earthquake in 1988. One of its two VVER 440-V230 light-water reactors was reactivated in 1995. Armenian authorities said they will build a new nuclear power plant to replace the aging facility.  The new plant is supposed to operate at twice the capacity of the Soviet-constructed facility. Metsamor currently generates some 40 percent of Armenia's electricity. 

But the government has yet to attract funding for the project that was estimated by a U.S.-funded feasibility study to cost at as much as $5 billion. 

Andrei Ryabov’s interview was part of South Caucasus Security and NATO project which interviews leading experts and political leaders from different countries for Armenia, Azerbaijan, Georgian media. -0-