EU Preparing Trade Preferences for Armenia, Financial Times Reports

BRUSSELS — The European Union is preparing emergency trade measures for Armenia to help ease the impact of import restrictions imposed by Russia in recent weeks, the Financial Times reported, citing four sources familiar with the plans.

According to the FT, the European Commission is developing so-called autonomous trade measures that would reduce customs duties on a number of Armenian food and agricultural products. In Brussels, officials believe Russia’s restrictions were intended to pressure Armenia’s “pro-Western authorities” ahead of the June 7 parliamentary elections.

The measures still require approval from a majority of EU member states and the European Parliament. According to the FT’s sources, they could cover most of the roughly 20 product groups on which Russia has imposed restrictions. The annual export value of those products is estimated at around €420 million, or approximately $485 million.

European Commission spokesperson Olof Gill told the newspaper that the Commission “will propose autonomous trade measures to help more Armenian traded goods enter the EU market and support the country’s economy in the sectors that have been most affected.”

The FT notes that Russia first restricted imports of Armenian flowers, citing phytosanitary concerns, before extending the bans to apricots, mineral water, wine, brandy, fruit, vegetables and fish.

According to the report, three days before the elections, the European Union announced a €50 million, or approximately $58 million, support package intended to help purchase flowers and other goods that had previously been exported to Russia.