Armenian government has calculated the consequences of a possible increase in Russian gas prices – Ministry of Finance
29.08.2026,
17:55
The Armenian government has calculated the possible consequences of a price increase for Russian gas, Finance Minister Vahe Hovhannisyan said in an interview with Shant TV.
YEREVAN, August 29. /ARKA/. The Armenian government has calculated the possible consequences of a price increase for Russian gas, Finance Minister Vahe Hovhannisyan said in an interview with Shant TV.
"We have assessed all the risks and are trying to incorporate these calculations into our risk assessment system. This is being done to understand the consequences of a given scenario," Hovhannisyan said.
However, the minister did not provide specific calculations, including possible price parameters and economic indicators for such a scenario.
At the end of May 2026, Russian authorities warned of a possible change in the terms of energy supplies to Armenia amid Yerevan's commitment to European integration. Dmitry Peskov, press secretary of the Russian president, stated that the preferential price for Russian gas for Armenia could become market-based if the country withdraws from the Eurasian Economic Union (EAEU).
Furthermore, Russian Energy Minister Sergey Tsivilev sent a letter to the Armenian side, warning of the possibility of suspending or terminating the December 2, 2013, agreement on the supply of gas, petroleum products, and rough diamonds if Armenia's accession to the EU proceeds. Tsivilev later explained that, should Armenia transition from the EAEU to the EU, Russia would not be able to supply it with gas at the current price.
"We have assessed all the risks and are trying to incorporate these calculations into our risk assessment system. This is being done to understand the consequences of a given scenario," Hovhannisyan said.
However, the minister did not provide specific calculations, including possible price parameters and economic indicators for such a scenario.
At the end of May 2026, Russian authorities warned of a possible change in the terms of energy supplies to Armenia amid Yerevan's commitment to European integration. Dmitry Peskov, press secretary of the Russian president, stated that the preferential price for Russian gas for Armenia could become market-based if the country withdraws from the Eurasian Economic Union (EAEU).
Furthermore, Russian Energy Minister Sergey Tsivilev sent a letter to the Armenian side, warning of the possibility of suspending or terminating the December 2, 2013, agreement on the supply of gas, petroleum products, and rough diamonds if Armenia's accession to the EU proceeds. Tsivilev later explained that, should Armenia transition from the EAEU to the EU, Russia would not be able to supply it with gas at the current price.
