Tweet
IMPACT OF NEW SANCTIONS ON ARMENIA'S BANKING SYSTEM WILL BE EXPRESSED IN DIFFERENT WAYS - SAYS ECONOMIST (VIDEO)
11:12 | September 17,2014 | Economy
What consequences can the new array sanctions imposed by the US and
EU on Russia [over Ukraine crisis] have on Armenia?
Armenia's economy, specifically the country's banking system, is
heavily dependent on Russia. Economist bagrat Asatryan says the
impact of the new sanctions on our banking system will be expressed
in different ways. The implementation of projects financed by Russia
will be reduced significantly, in the result, the opportunities to
invest in Armenia will be curtailed too.
Russia's worsening economic situation will also affect the flow
of direct investments and transfers. The economist says Armenian
authorities should start taking preventive measures, like Russia.
"Russia is making huge investments in its banking system, which
suggests that these structures need protection and the state is
trying to do it. No one seems to care about it in Armenia yet,"
says the economist.
Mr Asatryan thinks the sanctions against Russia can have serious
and heavy consequences for SWIFT global payment system. He says the
only solution in this case is to take a political decision. "Armenia
is joining the Customs Union. Everyone knows it. But one day these
sanctions may be applied against the CU member states as well. We
shall not encounter any problem, if the sanctions are not implied
against Armenia. However, if they are applied against Armenia-based
Russian banks, the consequences will not be so heavy as we have local
banks with English and French capital. "
Bagrat Asatryan thinks that Armenia will benefit only in case
it maintains political neutrality and does not make pro-Russian
announcements every now and then.
http://en.a1plus.am/1196285.html
https://www.youtube.com/watch?v=4iT2kEhWUlc
11:12 | September 17,2014 | Economy
What consequences can the new array sanctions imposed by the US and
EU on Russia [over Ukraine crisis] have on Armenia?
Armenia's economy, specifically the country's banking system, is
heavily dependent on Russia. Economist bagrat Asatryan says the
impact of the new sanctions on our banking system will be expressed
in different ways. The implementation of projects financed by Russia
will be reduced significantly, in the result, the opportunities to
invest in Armenia will be curtailed too.
Russia's worsening economic situation will also affect the flow
of direct investments and transfers. The economist says Armenian
authorities should start taking preventive measures, like Russia.
"Russia is making huge investments in its banking system, which
suggests that these structures need protection and the state is
trying to do it. No one seems to care about it in Armenia yet,"
says the economist.
Mr Asatryan thinks the sanctions against Russia can have serious
and heavy consequences for SWIFT global payment system. He says the
only solution in this case is to take a political decision. "Armenia
is joining the Customs Union. Everyone knows it. But one day these
sanctions may be applied against the CU member states as well. We
shall not encounter any problem, if the sanctions are not implied
against Armenia. However, if they are applied against Armenia-based
Russian banks, the consequences will not be so heavy as we have local
banks with English and French capital. "
Bagrat Asatryan thinks that Armenia will benefit only in case
it maintains political neutrality and does not make pro-Russian
announcements every now and then.
http://en.a1plus.am/1196285.html
https://www.youtube.com/watch?v=4iT2kEhWUlc