The European Union (EU) is preparing a financial support package of more than 50 million euros for Armenia amid Russia's economic pressures.
Modern.az reports that this was stated by the head of the European Commission (EC), Ursula von der Leyen, after a phone conversation with Armenian Prime Minister Nikol Pashinyan.
Von der Leyen called Moscow's actions “economic coercion” and emphasized that Europe stands with Armenia. The prepared aid package includes urgent financial support, as well as measures to simplify trade for some Armenian products, including agriculture. Targeted assistance will be provided to affected sectors, especially floriculture. The first batch of 10,000 flowers grown in Armenia will arrive in Latvia tomorrow to be sold on the local market.
In the long term, Europe aims to transform Armenia into a strategic transport hub in the region. A joint working group will be established on June 23 to coordinate the initiatives.
It should be noted that the EU had previously promised 2.2 million euros to Armenia for the visa liberalization process.
Tohfa Samad
