1. Armenia’s Critical Economic Reliance on Russia: Can the West Eliminate It?
- Author:
- Orkhan Baghirov
- Publication Date:
- 01-2024
- Content Type:
- Journal Article
- Journal:
- Baku Dialogues
- Institution:
- ADA University
- Abstract:
- Lately one of the most discussed political issues related to the South Caucasus region is Armenia’s attempt to incline towards the West by trying to move away from Russia’s sphere of influence. This has been manifested both geopolitically and geoeconomically. However, Armenia’s potential strategic shift away from its centuries-old political alignment with Russia raises questions about the future of the overall relationship between the two countries. A key concern revolves around the challenges Armenia may face due to its significant economic dependence on Russia. For such a shift to occur successfully, Armenia would have to not only strengthen its political and security ties with the West, but also develop the ability to replace Russia with Western partners in key economic sectors. Thus, the primary objective of the essay is to assess the degree to which Armenia could economically substitute Russia with the West, determining the feasibility of this transition. To achieve this, we should identify the critical level of Armenia’s reliance on Russia across diverse economic sectors and assess the extent to which the West can mitigate this dependency in anything resembling a realistic timeframe, without, that is, critically endangering Armenia’s economic wellbeing.
- Topic:
- Economics, Geopolitics, Trade, and Regional Politics
- Political Geography:
- Russia, Armenia, and South Caucasus