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“Russian investments in the Armenian economy have reduced from 120 million USD to 60 million which is the best indication of the negative effects of the Eurasian Economic Union (EAEU) on the Armenian-Russian bilateral relations, MP Aram Sargsyan from the opposition Yelq fraction told an Interview with RFE/RL's Armenian Service, suggesting the issue of Armenia’s leaving the economic union has subsequently turned into a ‘critical topic.’

Sargsyan confirmed his fraction fellow member Edmon Marukyan’s announcement that the issue [of leaving the economic union] had never been on the agenda of the political force thus far, yet initiating such discussions only remained a matter of time. 

Asked whether Yelq is set to initiate an exit movement in the country or will only come up with declarative appeals to the authorities, Sargsyan said: “We have always stated we want to build a state of European model, and Yelq alliance remains the sole political force committed to that idea.  The political alliance deems it necessary to justify and debate on all steps. The matter of leaving the EAEU will be the first issue to be discussed in our political force in the beginning of autumn,” Sargsyan said.

Reflecting on political consequences of Armenia’s exit from the economic bloc, the speaker admitted all the aspects of the process are subject to thorough discussions and analyses. 

In this regard, Sargsyan pointed out to Georgia’s example that recorded 40% economic growth in the first year after signing the Association Agreement with the European Union.