Armenia cannot simultaneously be a member of the Eurasian Economic Union (EAEU) and strengthen ties with the European Union (EU), said Sergey Mikhnevich, executive secretary of the EAEU Business Council and managing director of the Russian Union of Industrialists and Entrepreneurs, according to Sputnik Armenia.

“Official Yerevan must make an unequivocal choice,” Mikhnevich said, adding that recovering lost trade volumes under a negative scenario for the EAEU would be challenging. If Armenia decides to deepen relations with the EU, the EAEU may introduce tariff protection measures, leading to a significant decline in trade with allied countries.

To illustrate, Mikhnevich cited data showing that Armenia’s GDP has risen from $9.5 billion in 2015 to $24 billion. “Armenia’s trade with the EAEU is nearly 1.8 times greater than its trade with all EU countries. We expect our Armenian partners to pragmatically assess their benefits and risks,” he emphasized.

Mikhnevich also warned that a pivot to the West could affect Armenia’s trade relations with Iran. He noted that Armenia’s EAEU membership has significantly contributed to the effective utilization of trade links with Iran.

To highlight potential consequences, Mikhnevich referenced Turkey’s long but unsuccessful bid to join the EU despite its geographic proximity. “If I were in the Armenian side’s place, I would think twice,” he concluded.

Earlier, Hayk Mamijanyan, I Have Honor parliamentary faction head, accused the government of advancing a false Euro-integration agenda to prolong its power during a broadcast of “Abovyan Time” on Sputnik Armenia radio.