The Mythical Russian Investments in Armenia

On many Russian TV channels, deceitful “political scientists” and some “Armenians” are claiming that Russia feeds Armenia with huge investments. Do not believe this lie, it is better to check actual information. In November 2017, Investments from Armenia to Russia exceeded the investments from Russia to Armenia by $88 million.

That is, money from Armenia is actually invested in the Russian economy, not the other way around. And it should be noted that most of the investments from the Russian Federation at that time were made by Armenian entrepreneurs including Ruben Vardanyan, Ruben Grigoryan, Samvel Karapetyan, and many others.

They also often lie about writing off debts to Armenia. Have a look at a list of public debts written off by Russia. As you can see, Armenia is not on the list.

Writing off more than $31 billion debts for Cuba, Russia at the same time takes away plants and other enterprises from Armenia as debt payments. But this is just a share of the trouble: after Russia becomes the owner of these plants, their absolute majority stops operating.

They also claim that they sell natural gas to Armenia at the lowest charges in the region. Gas really reaches the border of Armenia at a price of $147 per thousand cubic meters, but in the country, the price magically rises to $280-320 per thousand cubic meters. As a result of such prices, Gazprom’s 100% subsidiary in Armenia received a net profit of $479,123,000 in 2016.

We shouldn’t even mention the condition of the power network and the railway of Armenia.

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P.S. Lately, investments from Russia have sharply decreased, while investments from Armenia in Russia remained at the former level. The price of gas is a huge testimony to this.