Pashinyan urges calm on Russian gas prices, cites Armenia's 6% GDP growth

September 17, 2026 at 02:56 PM1 min

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Armenian Prime Minister Nikol Pashinyan called for avoiding 'apocalyptic scenarios' over possible Russian gas price changes, describing Moscow-Yerevan ties as multilayered. He said Armenia continues stable development and will hold a referendum on EAEU or EU membership when necessary. The remarks follow Central Bank chief Martin Galstyan's warning that higher gas prices would fuel inflation and require a strong, unconventional response.

Key Facts

Armenian Prime Minister Nikol Pashinyan urged against 'apocalyptic scenarios' when discussing possible changes to Russian gas prices.
Armenia's GDP grew about 6% in the first half of the year, while exports fell 6.7%, mainly due to a decline in re-exports.
Russian gas supplies to Armenia are suspended until September 25 for planned maintenance and repairs.
Central Bank of Armenia head Martin Galstyan said higher Russian gas prices would push up inflation and require a strong, unconventional response.

Gas Price Stance

Pashinyan said Armenia and Russia have agreed to conduct an 'inventory' of bilateral relations, and relevant processes are underway. He stated that Armenia will regulate the gas price when the need arises, and not before. Pashinyan previously noted that Armenia has the highest gas pricing 'from the border to the final consumer' compared to other countries, prompting Yerevan to pursue diversification. Gazprom Armenia's press service said local consumers will be supplied from internal reserves during the maintenance period.

Export Decline and Growth

The Armenian government has not calculated possible damage from the export decline to Russia, Pashinyan said. He attributed the export drop mainly to reduced re-exports, which he called 'fake exports' that contributed almost nothing to the economy. Pashinyan said the government itself took measures against such re-exports.