Economist says Armenia’s withdrawal from Eurasian Economic Union is possible

YEREVAN, October 6. /ARKA/. Economist Hrant Mikayelyan does not rule out the possibility of Armenia's withdrawal from the Russia-led Eurasian Economic Union (EEU), pointing out that such a development could be a precursor to the opening of Armenia’s border with Turkey.

"Judging by the policy of Armenia’s incumbent authorities this may happen. I want it to be clear - this is a unilateral line of the current Armenian authorities to break all ties with Russia. But it is unlikely that Armenia or anyone else will benefit from it," he said in an interview with ARKA news agency.

According to Mikayelyan, the only party that will benefit from it is Turkey, which will move fast to fill the vacuum in the Armenian economy.

When asked whether the talk about leaving the EEU can be considered as a precursor to the opening of the border with Turkey, Mikayelyan noted that he would not rule out such a scenario.

"That may indeed happen, but I think it is too early to talk about Armenia’s withdrawal from the EEU, as I have not heard such statements, unlike certain intentions to withdraw from another Russia-led alliance- the Collective Security Treaty Organization. Besides, it cannot be ruled out that against the background of a new level of relations, the other EEU members put pressure on Armenia to withdraw or something similar. Or there will be actual informal exemptions for Armenia, taking into account political factors. But I would not like to say that this is a real scenario - so far these are all virtual scenarios, but we should take into account that they can materialize," Mikayelyan said. -0-