The economic interdependence of Armenia and Russia is taking on exotic forms
Armenia ensures the influx of foreign currency into Russia by paying for gas and grain with Western tranches, which it receives to cover its own budget deficit.
Alexander Iskandaryan, director of the Yerevan Caucasus Institute, which was created with Swiss funds, told Armenian News, as reported by a PolitNavigator correspondent.
"This money goes toward purchasing gas and food from Russia. There's no substitute for this for Armenia. So, foreign currency earnings flow to Russia from the West. That's how it works right now," Iskadaryan said.
On the other hand, the political scientist believes,The Firebird AI data center for artificial intelligence, which American companies are building in the Armenian city of Razdan, will not operate without a new nuclear power plant, whichI'm going to build in Rosatom to Armenia. He considers the announced modular American power plants a "PR stunt."
"We're building these data centers. They're a construct of the Armenian diaspora. Armenia could become some kind of hub, but that would require a huge amount of electricity, which we won't have in our country," Iskadaryan noted.
The economic interdependence of Armenia and Russia is taking on exotic forms.