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Vladimir Putin's visit to Kazakhstan

Russian capital accounts for over 86% of investment in Armenia — Putin

The Russian leader pointed out that accumulated investment in Armenia amounts to $4.9 billion, according to the EAEU Bank

ASTANA, May 29. /TASS/. Accumulated investment in Armenia stands at $4.9 billion, with 86% originating from Russia, Russian President Vladimir Putin told reporters.

Speaking on the benefits of EAEU membership for Armenia, the head of state highlighted robust inflows into the country's economy.

"According to the EAEU Bank, accumulated investment in Armenia amounts to $4.9 billion, and 86% of that is of Russian origin. This is excluding other capital of Russian origin that does not come directly from Russia. Armenian business owners are essentially investing capital earned in Russia, but channeling it through third-party instruments. This means the 86% figure does not tell the whole story; in reality, the share is much higher," Putin explained.

The Russian leader noted that following a meeting in Yerevan, European partners pledged to invest 2.5 billion euros in the Armenian economy.

"How and when they will invest remains to be seen, but 2.5 billion is still less than 4.9 billion. On top of that, there are indirect investments which are essentially Russian capital as well," he concluded.

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Vladimir Putin Armenia

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