Russian Official Compares Armenia's EU Ambitions to "Boarding the Titanic"
On January 9, Alexey Overchuk, the Russian Deputy Prime Minister, warned that Armenia must decide on its integration course, as the Eurasian Economic Union (EAEU) and the European Union (EU) are incompatible due to differing principles regarding the free movement of goods, services, capital, and labor.
Overchuk stated that terminating ties with the EAEU would result in significant economic consequences for Armenia, including an increase in food and electricity prices and a reduction of up to 80% in exports of goods produced in the country. "Thus, ordinary people will lose their incomes and jobs and will pay more for the essentials," he emphasized.
In contrast, Overchuk noted that joining the EU would enable Armenians to travel to Europe without visas. However, he compared Armenia's potential accession to the EU to "buying a ticket to the Titanic," referencing current challenges within the European Union.
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