On June 25, Russia's Deputy Prime Minister Alexey Overchuk stated that Armenia risks losing tariff-free access to the Russian market and other economic privileges if it pursues European Union membership.

Speaking at an international expert forum in Moscow, Overchuk, who co-heads the Russian-Armenian intergovernmental commission on economic cooperation, issued the warning just days after the Armenian government reignited discussions about an EU membership bid amid worsening Russian-Armenian relations.

“Of course, speaking about Armenia, it is impossible to ignore the fact that today, the political vector of this country is leaning more and more towards the West," said Alexey Overchuk,  adding, “You also need to understand that the European Union and the Eurasian Economic Union are incompatible entities. And the benefits that a country receives from proximity to Russia must be seen as the price we pay for our security and strategic depth. The involvement of some extra-regional players there would, of course, have consequences.”

Arman Yeghoyan, a senior Armenian pro-government lawmaker, announced recently that PM Nikol Pashinyan and his political team are “seriously considering” an EU membership bid, believing it would benefit the Armenian economy. Yeghoyan, who chaired a parliamentary hearing on the issue initiated by pro-Western groups supporting Pashinyan, suggested holding a referendum on EU membership within the next three months.