MOSCOW — Trade between Russia and Armenia has declined sharply in 2026 compared with the previous year, and the downward trend is expected to continue, Russian Deputy Prime Minister Alexei Overchuk said. According to Overchuk, bilateral trade reached a record level of approximately $12 billion in 2024 before falling to around $8 billion in 2025. “The situation developing in relations between the Eurasian Economic Union and Armenia was predictable. Over the past three or four years, we repeatedly told our Armenian partners that such risks existed, particularly the risk of declining trade,” Overchuk said. The statements by Overchuk and Fadeev reflect increasing economic and diplomatic pressure from Moscow as relations between Armenia and Russia continue to face strains over Yerevan’s foreign policy direction and its expanding engagement with Western partners.