Balayan Puts Armenia on Brussels’ Civic Stage

Tambiyan Samvel Leave a comment
Newsdesk

21 June 20264 min readComments

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Armenia’s ambassador is using culture, commerce and EU diplomacy to make Yerevan’s European turn visible beyond summit rooms

H.E. Tigran Balayan, Ambassador of Armenia (left)

Armenia’s ambassador in Brussels, Tigran Balayan, has become a useful lens through which to read Yerevan’s changing relationship with Europe: not only through official summits and security files, but through civic events, business links and the practical search for new markets at a moment of regional pressure.

Balayan is Armenia’s ambassador to Belgium and head of mission to the European Union, a role that places him at the intersection of national diplomacy, diaspora engagement and EU institutional politics. In Brussels, that combination matters. For a small, landlocked country trying to reduce dependency on old economic routes while preserving space for democratic choice, visibility in Europe is not ceremonial. It is part of policy.

That was the subtext of the recent Armenian Fair in Brussels, held in Ixelles on 31 May. The event brought Armenian culture, food, music and producers into a public Belgian setting, with Balayan framing it as both a cultural celebration and an opening for Armenian entrepreneurs seeking European consumers and partners.

Public Diplomacy With Economic Weight

Embassy fairs can look soft from a distance. In Armenia’s case, they carry harder economic meaning. Armenian exporters have faced pressure from disrupted trade routes, Russian restrictions and the structural difficulty of connecting a South Caucasus economy to European markets. A Brussels fair cannot solve those constraints, but it can make them tangible to local authorities, EU officials, businesses and diaspora networks.

Balayan’s activity therefore sits within a broader Armenian effort to turn European attention into concrete partnerships. The EU says its relations with Armenia are grounded in the Comprehensive and Enhanced Partnership Agreement and now include a deeper strategic agenda covering governance, trade, connectivity and resilience, according to the Council’s Armenia policy overview.

That framework has gained new urgency after the first EU-Armenia summit in May and Armenia’s June parliamentary election, which reinforced Prime Minister Nikol Pashinyan’s mandate for a cautious but visible westward shift. As The European Times recently reported, Europe’s credibility in Armenia depends on whether support reaches people rather than treating the country as a geopolitical symbol.

A Delicate Brussels Argument

Balayan’s Brussels work reflects that tension. His message is not simply that Armenia wants more Europe. It is that Armenia needs usable ties: market access, investment, institutional cooperation, educational links and support for resilience against pressure. Those are less dramatic than treaty headlines, but they are the channels through which a diplomatic turn becomes durable.

The ambassador also operates in a crowded and sensitive environment. Brussels hosts missions from states with competing views of the South Caucasus, and Armenia’s European path remains shaped by unresolved trauma after the displacement of Armenians from Nagorno-Karabakh, delicate peace talks with Azerbaijan, and the reality that Russia still matters economically and politically.

That is why cultural diplomacy can be more than cultural display. By placing Armenian producers, artists and community groups before Belgian and EU audiences, Balayan is helping present Armenia as a society with civic, economic and creative assets, not only as a security problem on Europe’s eastern edge.

For the EU, Armenia is becoming a measure of whether neighbourhood policy can support democratic resilience without overpromising membership or underestimating regional risk. For Armenia, Brussels is a place where credibility must be built in layers: through official meetings, parliamentary contacts, city-level partnerships, diaspora initiatives and business exposure.

Balayan’s recent activities suggest a diplomatic strategy built around those layers. The public face is a fair in Ixelles. The deeper argument is that Armenia’s European future will be decided not only by leaders at summits, but by whether Armenian citizens, firms and institutions can find practical room to breathe in Europe.

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An Armenian tycoon has a private zoo. Now he wants the world’s biggest Jesus s

Emil Lazarian Leave a comment

An Armenian tycoon has a private zoo. Now he wants the world’s biggest Jesus statue

By Pjotr Sauer in Arinj. Photographs by Sofia Maria Bergmann
Sun 21 Jun 2026 03.00 EDT

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Behind the walls of a sprawling estate on the outskirts of Yerevan, six tigers prowl behind a fence, three lions pace their enclosures, and alligators bask in the afternoon heat.

Further into the compound, more animals appear. Beneath a gilded, hand-painted ceiling, a dining hall houses a taxidermy menagerie: white tigers reared on their hind legs, a stuffed eagle perched atop a table, bear and wolf pelts spread across the floor. All of these, the owner proudly said, had been shot by him.

The scene offers a glimpse into the tastes of Gagik Tsarukyan, Armenia’s most flamboyant business tycoon and opposition politician, whose displays of wealth have long been the stuff of local folklore.

Gagik Tsarukyan has promised the statue will be ‘Armenia’s calling card’. Photograph: Sofia Maria Bergmann/The Guardian

Having secured less than 4% of the vote in this month’s parliamentary election, Tsarukyan’s chances of ever leading Armenia look slim, but one of Armenia’s richest and most divisive men remains determined to leave his mark on the country.

His chosen monument: erecting the world’s tallest statue of Jesus Christ, perched atop a 2,500-metre (8,200ft) mountain overlooking Yerevan.

It is, depending on who you ask, either a celebration of the small Caucasian nation’s ancient Christian heritage or the ultimate _expression_ of one oligarch’s appetite for excess.

A mock-up of the how the statue will look. Illustration: Gagik Tsarukyan

“This will be Armenia’s calling card,” Tsarukyan said during a rare interview at one of his homes in the village of Arinj, where he was born. “Christianity will become Armenia’s new brand.”

A former athlete turned businessman and politician, Tsarukyan built his fortune in gambling, alcohol and mining during the turbulent decades that followed the collapse of the Soviet Union.

Dressed head-to-toe in white linen and matching trainers, the barrel-chested one-time arm wrestling champion said the project was designed to resonate with a growing international movement that blends religious faith with nationalism and cultural conservatism – a trend most visible in Donald Trump’s Maga movement and among far-right parties across Europe.

“Trump is, of course, invited. We hope he comes,” Tsarukyan said, adding that an unofficial American delegation from the US embassy had already visited the mountain site.

Once completed, the 101-metre (331ft) statue will stand atop Hatis, a mountain about 25km (15.5 miles) east of Yerevan, making it visible from much of the Armenian capital. Tsarukyan noted with evident satisfaction that it would dwarf Brazil’s iconic Christ the Redeemer and stand slightly taller than New York’s Statue of Liberty.

“We are the oldest Christian nation in the world,” Tsarukyan said. “It only makes sense we should have the biggest Jesus statue in the world.”

The proposal has drawn criticism from the country’s apostolic church as well as environmental groups. Photograph: Sofia Maria Bergmann/The Guardian

Although most of its neighbours today are Muslim-majority countries, Armenia is widely regarded as the world’s oldest officially Christian nation, traditionally dating its conversion to AD301.

But the Armenian Apostolic church has repeatedly opposed the project, arguing that its mass scale and style sit uneasily with Armenia’s religious and architectural traditions.

Church leaders say Armenian Christianity has historically expressed itself through monasteries, churches and khachkars – intricately carved stone crosses unique to Armenia – rather than colossal statues modelled on monuments elsewhere in the world.

We are the oldest Christian nation … we should have the biggest Jesus statue

Gagik Tsarukyan

The proposal has also drawn criticism from environmentalists, who warn that construction could cause lasting damage to the natural landscape of Hatis.

Tsarukyan brushed aside the clergy’s and activists’ objections, insisting he enjoyed good relations with the Armenian Apostolic church and pointing to the eight churches he says he has financed across the country.

Gagik Tsarukyan only drew 4% of the vote in this month’s Armenian elections. Photograph: Sofia Maria Bergmann/The Guardian

More importantly, Tsarukyan said, the monument was intended to appeal to a far broader audience than Armenia’s faithful alone.

He claimed that 10 million tourists a year would eventually visit the site. “There’s nothing else like it in the world. From ocean to ocean, everyone will be talking about it.”

At present, however, the monument, which has been under construction on and off since 2022, looks less like the centrepiece of a future pilgrimage site than a giant relic abandoned in a construction yard outside Yerevan, where it is being pieced together before its eventual ascent to the mountain.

On the Guardian’s recent visit to the site, Christ’s vast white figure loomed over piles of stone, cranes, and workshop buildings, appearing almost surreal against the sparse landscape.

Construction of the statue began in 2022, but the project remains unfinished. Photograph: Sofia Maria Bergmann/The Guardian

Back at the estate, Tsarukyan appeared tired after a bitter election campaign that had only just ended.

Voting results showed his nationalist and Russia-friendly Prosperous Armenia party hovering just below the 4% threshold needed to enter parliament, a result the party was challenging in court.

The poor showing continued a reversal for a politician who, for two decades, had been one of Armenia’s most durable power brokers.

Tsarukyan built that position on close ties to the former president Robert Kocharyan, expanding his empire as part of a small group of politically connected businessmen who came to dominate much of Armenia’s economy.

With his private zoo, marble mansions and fleet of luxury cars, he can seem like a relic of the post-Soviet boom years, when fortunes were amassed at dizzying speed and displayed with little concern for subtlety.

Gagik Tsarukyan is a proud big-game hunter. Photograph: Sofia Maria Bergmann/The Guardian

That image made him a natural target for the current prime minister, Nikol Pashinyan, who rose to power in the 2018 Velvet Revolution pledging to dismantle Armenia’s oligarchic system.

Pashinyan has repeatedly cast Tsarukyan as a symbol of the country’s corrupt old order, at times reviving dark episodes from his Soviet-era past, including a 1979 gang-rape conviction that was later overturned after Armenia gained independence.

In his victory speech on 7 June, Pashinyan further vowed to jail his political opponents, singling out Tsarukyan, Kocharyan and the billionaire businessman Samvel Karapetyan.

The following day, investigators arrived at Tsarukyan’s estate to formally charge him with tax-related offences. Local media reported that he had attempted to flee the country before the charges were announced.

Tsarukyan’s ostentatious displays of wealth, such as his lion enclosures, have drawn ire from his political opponents. Photograph: Sofia Maria Bergmann/The Guardian

Tsarukyan rejected the allegation, saying he had merely planned a short trip to the United Arab Emirates but had been prevented from boarding his flight and returned home.

Yet Tsarukyan strongly dismissed suggestions that the authorities could derail his construction plans, arguing that the Jesus project had become too significant to abandon and would bring substantial benefits to Armenia’s economy and tourism industry.

“How can a man be afraid?” he said. “Why be afraid? What will they put me in prison for?”

For now, he said his team appeared more concerned with the practical challenge of getting Christ to the mountaintop.

The logistics of building the monument have proved almost as ambitious as the project itself.

Tsarukyan said the original plan was to transport sections of the statue by helicopter. The idea was eventually abandoned in favour of a more conventional solution: hauling the enormous pieces up the mountain by truck before assembling them onsite.

Tsarukyan has already begun construction on a giant Noah’s Ark. Photograph: Sofia Maria Bergmann/The Guardian

And the Jesus statue, he insisted, is only the beginning.

Construction has already begun on another biblical attraction nearby: a giant Noah’s Ark. Pulling out images of the project on his phone, he described a vessel 134 metres long, 24 metres wide and 18 metres high. The ground floor would house a museum, the first floor a hotel and the second a cafe.

“These projects are sacred,” he said. “This is how I will inscribe my name in history, for the world to see during my lifetime and long after.”

For now, though, on the hillside above Yerevan, the world’s largest Jesus has yet to rise.

In the summer heat, passersby stopped to photograph the towering figure and debate its merits.

“It’s beautiful. It will make Armenia known across the world,” said Arman, a 54-year-old taxi driver who had pulled over to admire the statue. “I am really proud of this.”

Others were less convinced.

“I don’t quite understand why it has to be this big,” said Mariam, a local resident, looking up at the monument. “It’s all a bit crass.”

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Turkish authors: How Do Small States Survive? The Armenian Election Shows an E

Markos Nalchajian Leave a comment

Hyeran Jo, Efe Tokdemir and Erman Ermihan

Jun 21 2026

Ale_Mi/Depositphotos

Armenia held a historic parliamentary election on June 7. The Contract Party, the party of the current Prime Minister of Armenia, Nikol Pashinyan, won. Pashinyan lost the war twice to Azerbaijan in 2020 and 2023, suffering territorial loss for Armenia. Still, about 50% of voters supported the Contract Party. Why? Can leaders lose a war and retain power? Surprisingly, in international relations, it sometimes happens that democratic leaders maintain power even after losing a war. But it is still intriguing that Pashinyan pulled it off twice and now, three times. The answer to his political survival appears to lie in the foreign alignment in Pashinyan’s playbook. It is the playbook many of the Eurasian countries play nowadays, so the case provides a general lesson for contemporary international politics.

The primary fault line in contemporary Armenian politics has been between the pro-West and the pro-Russia. Couched between big powers like Russia and the West, Armenia had a distant past under Soviet influence until the fall of the Berlin Wall. The West, in the Armenian context, is associated with the EU and the US. Pashinyan’s Contract Party has associated itself with the West. The opposition parties (Strong Armenia, Armenia Alliance, Prosperous Armenia, and a host of other parties) have been mostly aligned with Russia.

As in many elections, economic and security issues are on the agenda and what matters to the voters. In small states like Armenia, foreign alignment is acutely related to the state’s fate. Voters seem to be aware that Armenia’s economic and security are acutely tied to Armenia’s external relations. The Contract Party’s election slogan was “Stand for Peace.” The slogan reminds voters of the continuity in the absence of active conflict with Armenia and promises economic benefits if Armenia stays on the pro-Western path.

Opposition parties, on the other hand, are many and not coalesced. The most viable opposition leader of Strong Armenia, Samvel Karapetyan, was a business tycoon with Russian ties, who collected about 23% of the votes. Armenia Alliance was led by the former President Robert Kocharyan, who was in power until 2018, with the old guard ties with Russia. The leader of Prosperous Armenia, Gagik Tsarukyan, has had business relationships with Russia and was recently accused of intelligence cooperation with Russia.  

A dark horse from the 2018 Velvet Revolution, Pashinyan ushered in the competitive election in Armenia. He lost the 2020 war against Azerbaijan, which involved the long-standing disputed territory of Nagorno-Karabakh. With the Turkish backing of Azerbaijan and a weak military, Armenia suffered substantial territorial loss. The snap election in 2021 conferred a landslide victory to Pashinyan, largely attributed to a fragmented and discredited opposition that voters associated with the pre-2018 old guard. The 2023 defeat to Azerbaijan’s capture of the enclave was also a blow to Pashinyan, causing a massive humanitarian crisis. Yet again, the defeat was framed as a success for Armenian sovereignty and stability. The Western pivot provided enough discrimination to the voters, most of whom have been disenchanted by Russia.   

In early 2026, Pashinyan signed up for the Trump Route for International Peace and Prosperity (TRIPP), a transit corridor in the $5-billion joint venture with the United States. The Trump Route promises job creation, capital injection, and market access. We are reminded that Armenia is a landlocked state located in the middle of Azerbaijan, Türkiye, Georgia, and Iran, with no official relations and an open transportation route with the first two. The value of the Trump Route was thus touted as the regional stability and economic growth while retaining Armenia’s sovereignty. In May 2026, Pashinyan also met EU leaders (European Commission President Ursula von der Leyen and European Council President António Costa) to discuss strengthening security and economic ties. The timing of the Armenia-EU summit, held ahead of the June election, does not look like a coincidence.

The outbreak of the US-Israel-Iran war provided an unexpected final chapter to this electoral story. Pashinyan’s government neither condemned the US-Israeli campaign nor endorsed it, maintaining a studied neutrality consistent with Armenia’s “crossroads diplomacy” doctrine. More consequentially, Pashinyan was able to capitalize on Russia’s conspicuous failure to provide any meaningful support to Iran despite Moscow’s deep military ties with Tehran and years of partnership. The failure reinforced the central argument Pashinyan had been making to Armenian voters since 2021: that the Collective Security Treaty Organization (CSTO) and Russian security guarantees are structurally unreliable when tested. Pashinyan’s story is unique in some aspects, particularly the conflict context of Nagorno-Karabakh. Armenia is not alone, however, in terms of the political fates of small states that are small in size and influence.

Kazakhstan’s multi-vector foreign policy is a testament to many countries’ evolving statecraft in the region. After the power transition from Nazarbayev’s long rule, Tokayev staged a snap election victory to consolidate power while maintaining energy initiatives with Russia and securing the Belt and Road initiatives from China. In addition, Tokayev maintained economic and security ties with the West by remaining neutral in the Russia-Ukraine War.

Moldova, once the Soviet satellite country, is now pro-Western. Maia Sandu, elected in 2019, spearheaded the application for EU membership in 2022. She worked with the old guard, pro-Russian Socialist Party, to win the 2019 election, but still faces opposition from the former PM, Igor Dodon, who remains pro-Russia. The country is yet to join NATO and remains strategically and constitutionally neutral. As in the case of Armenia, domestic politics overshadows what Moldova does externally. In turn, external relations also heavily influence what Moldova experiences internally.

What Armenia, Kazakhstan, and Moldova share is a common playbook. Small states in geopolitically contested spaces have learned to convert foreign alignment choices into domestic political capital. The craft is to use the visible benefits of external partnerships as a central argument to gain electoral success and maintain power. What makes Pashinyan’s case distinctive is the sheer severity of the tests he has faced: two lost wars, a humanitarian catastrophe, and now a regional war on his southern border. For Armenian voters, the question in the June election was no longer whether Pashinyan won wars, but whether the alternative offered any credible path forward.

Disclaimer

This article was made possible in part by a grant from the Andrew Carnegie Foundation, formerly Carnegie Corporation of New York (G-PS-24-62004, Small State Statecraft and Realignment). The statements made and views expressed are solely the responsibility of the authors.

Further Reading on E-International Relations

  • Triumph in Defeat: Inaugurating a New Era for Azerbaijan and Armenia
  • Opinion – For Lasting Peace Armenia Needs to Remove Territorial Claims From Its Constitution
  • The Caucasus be TRIPP’in: Two Viewpoints on Trump’s Azerbaijan-Armenia ‘Peace’
  • Exploring the Normalization of Relations Between Armenia and Turkey
  • Opinion – Why Armenia and Azerbaijan Diverge on the Zangezur Corridor
  • Nagorno-Karabakh: The Endless Conflict in the Black Garden
ABOUT THE AUTHOR(S)

Hyeran Jo is an Associate Professor, Department of Political Science, The Bush School of Government and Public Service, Texas A&M University, USA.

Efe Tokdemir is an Associate Professor, Department of International Relations, Bilkent University & Director of Research at the Center for Foreign Policy and Peace Research (CFPPR), Türkiye.

Erman Ermihan is a Postdoctoral Researcher & Part-time Lecturer, Department of International Relations, Bilkent University, Türkiye.

All three authors are working on the grant project funded by the Andrew Carnegie Foundation, formerly known as the Carnegie Corporation of New York. The project title is “Small State Statecraft and Realignment” (Grant No. G-PS-24-62004).

https://www.e-ir.info/2026/06/21/opinion-how-do-small-states-survive-the-armenian-election-shows-an-example/?fbclid=IwY2xjawSlYN9leHRuA2FlbQIxMQBicmlkETFKQlpsODFiRTZJcW54WHJKc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHjOp2XR3Hf9ozNv0Timg2wxwdYTSNCycBKIuIVeQ6ygv0AALOst7s2QhHTVe_aem_4LUfYr5EtfA6BmrVx04COA

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168: Risks are accumulating in the real estate market and financial system

Emil Lazarian Leave a comment

June: 21, 2026

In the last year’s financial stability report, which was published recently, the Central Bank made a worrying record regarding real estate and the credit market. He considered that in the conditions of widespread construction, as a result of demand saturation, it is possible to have an excess supply of apartments, creating problems for construction loans.

“In the real estate market, there are possible risks of excess supply.

2025 the area of ​​commissioned residential buildings continued to grow at a high rate of 80 percent. The latter is the result of the implementation of large-scale projects that started previously and are currently entering the primary market, which in the conditions of the gradual saturation of real estate demand can create risks of forming an excess supply and increasing credit losses on construction loans,” the Central Bank noted.

The Central Bank’s concerns were conditioned by the fact that the real estate market showed trends of relative stabilization of demand, as well as slowing down of price growth. The growth of real estate prices has slowed down sharply in Yerevan. an annual increase of 0.3 percent in average apartment prices was recorded, which in 2021 is the lowest annual growth rate recorded in the capital since.

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During the year, the general activity in the real estate market also decreased, the number of transactions decreased.

Along with the decrease in overall market activity, the number of apartment rental transactions decreased. This was accompanied by a decrease in rent. The number of rental transactions decreased by 43.7 percent, and rents decreased by 3.9 percent.

This situation has caused concerns for the Central Bank, especially regarding the maintenance of mortgage loans taken by citizens, especially citizens who have purchased an apartment with the intention of renting it out later.

“In the last three years, the price/rent ratio of residential real estate has increased in the republic, which may lead to the weakening of investment attractiveness and demand for real estate and further adjustment of prices. In addition, it can increase the risks related to the increase in the credit burden of households that have purchased real estate as an investment and the servicing of loans,” the Central Bank believes.

Last year there was a certain deterioration in the quality of mortgage loans, classified loans increased. Although the Central Bank considers that the quality of such loans remains quite high. Another question is how long will this situation last?

The pressure dictated by the credit market, both on citizens and developers, has significantly increased in previous years as a result of widespread lending. The credit burden has increased. And if it turns out that the existing risks continue to materialize, which is increasingly likely, their consequences can be severe, both for the real estate market, citizens, and the financial system.

We see how much the risks of Armenia’s economy have worsened recently. They are related both to regional uncertainties and conflict, and especially to the tension observed in the Armenian-Russian economic relations. The export of Armenian agricultural products was completely closed on the Russian market. Despite the assurances and announcements, the possibilities of supplying them to other markets are limited. There may be some exports, but there are no big expectations from those markets. Such problems cannot be solved in a short period of time.

This affects both the economy, business, and the citizen. People’s incomes decrease, which will gradually lead to loss of both solvency and creditworthiness.

Taking advantage of the income tax refund privilege, many citizens have taken mortgage loans in the past few years, and now, if the income of these people decreases due to the economic situation, many will face problems in servicing their credit obligations.

The scope of such borrowers will increase much more if other risks imposed on the economy from the external sector deepen. Such a significant risk is the possible price increase of the Russian gas supplied to Armenia, which will lead to an increase in the price of the entire economy, a slowdown in economic activity, a decline in economic growth, a reduction in society’s income, as well as a significant increase in prices in the consumer market.

It is already noticeable that even before this aggravation of Armenian-Russian relations, there is a weakening of activity in the Armenian economy. In the first quarter, a significant slowdown in the rate of economic growth was recorded. If last year closed at 7.2 percent, the growth in the first quarter of this year was only 4 percent, which is significantly lower not only from the first quarter of last year, but also for that period, it is the lowest indicator since 2021.

There is no doubt that if the emerging problems deepen, the pace of economic growth will slow down even more in the near future. And this will lead to a decline in the solvency of the economy and citizens.

Under such conditions, the risk factor imposed on the real estate market and the financial system from that sector will increase. As much as the Central Bank considers that the stability and the ability to absorb risks of the banking system is quite high, it will hardly be able to withstand the possible systemic crisis associated with the real estate market, if the existing risks continue to deepen and materialize.

HAKOB KOCHARYAN




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What was the role of Armenians in the medieval trading world? Marco Polo Exclusive

Dabaghian Diana Leave a comment

June: 21, 2026

Marco Polo is considered one of the most famous travelers of the Middle Ages, because he gave Europeans detailed information about Asia. He spent many years in China and had the opportunity to get acquainted with the life of such countries and peoples, about which almost nothing was known in Europe. During his travels, he described cities, trade routes, governmental systems, and local customs.

 

Marco Polo’s testimonies contributed to the development of geographical knowledge and new journeys.  Apart from being an exceptional traveler from Europe to China, he was also unique in his travel writing. Marco Polo’s travels are also exceptional for us, because in the book we find information about medieval Armenia. On his way from Venice to China in 1271, Marco Polo also happens to be in Cilicia.

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“Marco Polo’s journey to China passes through extremely interesting places, he comes by sea to Cilicia, where at that time there was an Armenian kingdom and Levon Lusinyan was the head of power. Marco Polo calls the territory of the Armenian kingdom of Cilicia “Little Armenia”. He further ascends to the North, the Armenian Plateau, i.e. “Greater Armenia”. Marco Polo speaks with great admiration about Yerznka and Erzrum in the Armenian highlands, as well as the cities of Archesh in the northern part of Lake Vana. He calls Erzurum Arziron and Archesh Arzizi. Marco Polo also speaks Armenian about the lush pastures of the plateau.” (K. Avetisyan, “Geographic travelers of the name”, Yerevan, 1951, p. 6).

Arriving in Cilicia, he gives a detailed account of the trading cities of Cilicia. He writes that Cilician Armenia was famous for its commercial raw materials in the world.

“In this province there is a great and good sea-coast city called Layas (Ayas), which is a bustling center of commerce, for know that all the spices and all the finery that come from the Euphrates are brought to this city, as well as other valuable goods. There is an abundance of cotton here. And all the merchants from Venice, Pisa, and Genoa, and from the depths of the land, come here to buy and sell, and here they also had their warehouses.” (Marco Polo “Description of the World: The Book of Miracles”, Yerevan, 2018, p. 45).

Speaking about Cilicia, Marco Polo also writes about medieval Armenia in his book. Like Cilicia, in addition to the description, the traveler also gives what Armenia was famous for in the world trade map.

“Greater Armenia is a very big state. The language is the same everywhere, different from other provinces, but in everything else it is similar to Little Armenia, not counting that it is larger both in terms of territory and the number of marzes. It originates from a city called Arsinga (Yerznka), where the best bokran (stiff canvas, expensive linen) in the world is produced, because its best craftsmen are there. There is the finest and most beautiful cotton, and there are many other crafts that we cannot list here. Other cities include Arziron (Kari), which is very large and where a large amount of silver is mined, and Arshishin (Archesh)” (Ibid., p. 48).

   

The traveler also describes other goods sent from Armenia to Europe, as well as foreigners trading in Cilicia.

“Many valuable goods were sent from Armenia to Europe, especially carpets, goat hair, forest material, dried fruits, etc. Taurus iron was also known. Armenia was also famous for its horses and mules. In Cilicia there were many Genoese merchants in particular, to whom King Leo the Second had granted a great privilege.” (Avetisyan K., “Geographic travelers of the name”, p. 7).

Marco Polo lived in China for 17 years and traveled for another 7 years. He brought gunpowder and the compass from China to Europe, and he also met and saw how coal was used. He is also exceptional for us, Armenians, because his travelogues show what kind of developed and internationally renowned country medieval Armenia was, which was at the crossroads of world trade routes. These historical facts and information emphasize that by advancing the national interest, Armenians were able to have their clear position and place in the economic and commercial world of the Middle Ages centuries ago.

Z. I hesitated




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Mher Grigoryan in 2025 received an income of more than 38.5 million drams, the wife herself

Hagop Kamalian Leave a comment

June: 21, 2026

Recently, on the occasion of the Republic Day, among other officials, Deputy Prime Minister Mher Grigoryan was awarded the 1st degree medal “For Services to the Motherland”.

By the way, ten years ago, in 2016, by the decree of the NKR president, Mher Grigoryan was awarded the “Anania Shirakatsi” medal for his contribution to the development of the economy. Artsakh does not exist, but Mher Grigoryan exists and continues to be part of the government, which, in fact, considers the issue of Artsakh closed.

“On the occasion of the Republic Day, for outstanding services rendered to the motherland, long-term tireless activity and dedication, the Deputy Prime Minister of the Republic of Armenia, Mher Herberti GRIGORYAN, was awarded with the 1st degree order “For Services to the Motherland”, it was stated in the decree of the recently awarded order.

The outstanding services he rendered to the motherland are not measurable, but the official’s declaration is measurable, which we will refer to today.

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Thus, Mher Grigoryan, who has held the post of Deputy Prime Minister since May 2018, submitted the 2025 declaration to the Corruption Prevention Commission on May 26, according to which he started and ended the year with 5 jointly owned real estates: 2 garages, a plot of land, a private residential house, an apartment, which he acquired between 2007 and 2015.

The official’s bank account balances almost doubled during the year. instead of 7,088,537.6 drams at the beginning of the year, amounting to 13,040,358.5 drams at the end of the year, the cash funds during the year amounted to 50 million drams, and the amount of bank deposits was 500 thousand dollars.

Mher Grigoryan’s income of 38 million 524,772.69 AMD for the reporting year was generated from 32,089,630 AMD salary received from the Prime Minister’s Office and/or other payments equal to it, 188,247.9 AMD other income received from Ardshinbank OJSC, 16,816.78 dollars received from the same bank and 41,334.8 AMD from loans or bank loans. from interest and other remuneration received for deposits. Let’s remind: Mher Grigoryan in 2011-2018. held the position of chairman of the board of Ardshinbank

The official’s wife, Anna Grigoryan, in his declaration, he mentioned again about 5 real estates, of which he manages 3 jointly, 2 individually. According to the declaration, the declarant acquired 4 properties: 2 houses and 2 garages in the years 2007-2011, and he bought the individual residential house in Ajapnyak in 2023 and manages it as a sole proprietor.

Mher Grigoryan’s wife also declared a bank deposit of 500,000 US dollars, and the balances of several bank accounts at the beginning of the year were: 22,864.41 dollars, 13,986,813 drams, 2.74 euros, at the end of the year – 10,000.6 dollars, 1,011,521.1 drams and 3.26 euros.

Anna Grigoryan’s annual income for the reporting year, 2025, was AMD 6,186,388.86, which was generated from the $16,816.78 she received from Ardshinbank OJSC as interest and other compensation for loans or bank deposits.

During the year, the official’s wife also spent 18 million 642,058 drams on real estate repair costs.

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Pashinyan’s puzzle was assembled incorrectly. we must be ready for an emergency election

Emil Lazarian Leave a comment

June: 21, 2026

During the penultimate session of the government, the legislative initiative of the executive was approved review taxable under excise tax excise duty rates set for goods. As a result, the price of cigarettes, alcohol, diesel, gasoline will increase.

In particular, due to the expected inflation in the coming years, to index the excise tax rates of the goods subject to excise tax, setting the coefficient for each year at 3 percent. It is planned to increase the excise tax rates on tobacco products by 7 percent each year, on heated cigarettes by 30 percent each year, on electronic cigarettes by 100 percent in the first year, then by 25 and 20 percent in the following two years, and on hookah cigarettes by 40 percent in the first year, then by 30 percent each year in the following two years.

Karen Chilingaryan, President of “Consumer Advice Center” NGO in other words, the increase in the excise tax will first of all hit the consumers’ pockets, because any businessman must pursue his profit, that is, if he has to pay tax through the excise tax, then he must increase the price of his services and goods.

“The only victim of all this is the consumer, if as a result of the increase in the price of diesel, the price of public transport will also increase, then this will not be justified in any way. In addition to transport, there is agriculture, agricultural machinery runs on diesel fuel, which means that agricultural products will also become more expensive.” 168.amKaren Chilingaryan said in a conversation with

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According to him, if the Government does not want the burden of all these price increases to remain on the consumers, then it should make certain subsidies for agriculture, apply certain discounts related to agricultural machinery.

“I hope that at least the cost of the public transport fare will not increase, because you remember that 2 years ago they announced that the transport fare would be 300 drams, they just made up those numbers without taking into account what income it would bring. But realizing that those 300 drams will cause a great protest among the public, they immediately reduced it to 150 drams. Meanwhile, they should have announced AMD 150 from the very beginning, but even by raising the fare, the problem of public transport was not solved. They should do so that our consumer does not suffer, at least they should follow the example of Georgia, instead of selling a new bicycle. They did a half-baked job, and if they increase the transport fares after all this, it will be absurd, I think in this case, a wave of protest will rise,” emphasized our interlocutor.

According to him, if agricultural products become more expensive by 10-20 drams, it will be understood, but if diesel fuel becomes more expensive, then the price of agricultural products will increase even more.

“The government should deal with these issues in order to control the inflation of agricultural products,” emphasized Karen Chilingaryan.

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Yes, there were black lists. I left the public because I couldn’t reconcile. Mane Grieg

Kanayan Tamar Leave a comment

June: 21, 2026

168TVof “The Rendezvous” the guest of the show Director of the State Song Theater, TV presenter Mane Grigoryan is.

During the conversation, he talked about the legacy left by his father Artur Grigoryan, the problems of Armenian music, the years of his work at the Public Television Company, “black lists”, as well as his personal life.

“Arthur Grigoryan was never afraid to tell the truth”

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According to Mane Grigoryan, the Armenian music field today feels the lack of a strict and impartial specialist like Arthur Grigoryan.

“Today, many people say that there is a need for his words, his criticism, because after those remarks, people became more attentive to their work. He never thought whether this person would be angry or not. If it was bad, he said it was bad.”

According to him, the harshest criticism often fell on the theater artists and their own students.

“He was most angry with his students because he expected the highest result from them.”

“No one has taken that place yet”

Speaking about the current music field, Mane Grigoryan noted that today there is no authority whose words can have the same impact as Artur Grigoryan’s.

“At that time, people were even afraid that he might call and express his opinion. Now, no one has taken that place yet.”

He is convinced that the main problem of Armenian music is the loss of quality and national identity.

During the blitz of questions, when he was asked to say in one word what is missing in Armenian singing, he answered: “Armenian music.”

 Were there “blacklists” in public television?

The interview also talked about the so-called “black lists” that existed in the Public Television. Mane Grigoryan confirmed that he was involved in such a phenomenon during his work.

“Yes, there were. In my impression, in most cases they were not the result of professional, but human ambitions.”

According to him, sometimes the participation of interesting guests in the programs became impossible not because of professional, but because of personal relationships. “The broadcasting product was suffering, the TV viewer was suffering.”

 Why did you leave Public?

Mane Grigoryan said that he left the Public TV Company by his own decision.

“I am a television person. When I saw that ideas were not listened to, creative approaches were not appreciated, it was difficult for me to come to terms with it.”

According to him, it is especially painful when he sees low-quality content or content that does not correspond to the mission of the public channel. “My heart hurts because I want everything to be the first in Public.”

“I never fought to get rid of the label “Grigorichi’s girl”

Mane Grigoryan counters the often-discussed topic of staying in the shadow of his famous father.

“I have never had such a problem. It is only an honor for me when they associate me with my father.”

According to him, one of his main missions today is to preserve Artur Grigoryan’s creative heritage and present it to the public.

“Maybe a lot of things are still stored only in my computers, but I will do everything to make people see how great Artur Grigoryan really was.”

“I miss his smell the most from Papa”

Mane Grigoryan admitted that he still misses his father the most.

“If I had the chance to meet, I wouldn’t say anything. I would just hug him and smell him for a long time. I missed his smell the most.”

He also told that his daughter, Kaya, still takes the loss of her grandfather hard and continues to live with his music.

About personal life without details

Despite our attempts, Mane Grigoryan once again avoided the details of his personal life. Let’s remind that earlier he wrote that there is a person in his life who helped him overcome a difficult period and “revive”. When asked whether marriage can be expected in the near future, he gave a short answer.

“You’ll know when you see it.”

At the same time, he admitted that he still wants his daughter to have a sibling. “I would really like to, but at this stage I am so overwhelmed that I still can’t imagine.”

“Artsakh is our land”

The subject of Artsakh also occupied a separate place in the conversation.

Mane Grigoryan mentioned that although he was born in Yerevan, he considers himself to be from Artsakh.

“A person who has been to Artsakh at least once cannot help but fall in love with Artsakh.”

According to him, it is important for the new generation to recognize Artsakh’s history, culture and that important part of Armenian identity.

“There’s no shame in being happy”

At the end of the interview, Mane Grigoryan sent an important message to the public.

“It is difficult for people to recover after the last years. But it is necessary to understand that it is not a shame to be happy, it is not a shame to smile and laugh. I wish everyone many happy days.”

Thus, the next edition of “Randevu” opened a number of closed pages of Mane Grigoryan’s life and thinking, showing the image of not only a director and a presenter, but also a daughter, a mother and a person infinitely devoted to art.

Մանրամասները՝ in the video.




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168: If this government does not create a war, there is no peace. this is a wall

Arpi Talalian Leave a comment

June: 21, 2026

Satik Seyranyan’s “Lessons” program the guest International expert in public finance management, former Minister of Finance of the Republic of Armenia, Master of the University of Illinois, USA This is Vardan Aramyan.

The main theses of the interview are below.

  • If this government does not create a war situation, there will be no peace… Now they have initiated an economic war with Russia. Obviously, with this development of events, if the price of gas changes, which we now get from Russia for 177 dollars, heating the house with gas, not to mention keeping greenhouses, will be a problem. We import 550 to 570 million dollars worth of gas from Russia annually. If that price even doubles, it means that Russia is subsidizing us in the amount of half a billion dollars a year. Now let’s compare half a billion dollars a year with the promised European lump sum of $270 million, see: are they comparable?…
  • The money that is promised to us from Europe, moreover, if it will reach us, it will not be promises, then it may happen over the years, it is sad because as a result of all this, our losses happen all at once. I don’t believe that we will even have the money promised by the EU until September, while our businessmen already have a cash problem today and it needs to be solved…
  • The product that is under phytosanitary must pass certification. And how should it be done? There should be labs that don’t exist. Recently, I was listening to the head of the government (Pashinyan) and I thought, look where we live. When he says that we showed the place where the goods should be exported, what does he think, people didn’t know their place?

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  • In real business, there are many problems that are not visible to a government official. Entrepreneurs understand very well both the risks and the future. And what is the problem that businessmen do not want to take goods to Europe?: Because there are many problems and it is not beneficial.
  • It is strange that the government is now talking about the diversification of the economy, when it was during their time that our economy, particularly exports, became more dependent on Russia. I say this based on the official numbers, and they are very large. Exports to Russia did not increase by percentage, but by times. Even as a member of EAEU, under the previous government of Armenia, the export to the European Union was 440 million dollars, and in 2018 it was already 680 million dollars, an increase of 50%.
  • 2017 when CEPA was signed under the previous administration agreement, there was also a provision on visa liberalization, which has not been done by this government until now. And what was the need for a free visa so that the drivers of our exporting vehicles could freely enter the European territory without a visa?:
  • The physical distance between Armenia and Russia is 2081 km. When we factor in cultural, geographic, administrative and economic factors, the distance shrinks to 1,598 km. This means that the Russian market is simplified for us. This is without considering the existence of our Diaspora, which helps our businessmen. Armenian buyers in Russia prefer Armenian apricots to Uzbek apricots, which are cheaper. You don’t need to make a marketing plan to introduce the Russian buyer to Armenian brandy, because we are a people of the same territory of the USSR. 

On the contrary, the distance from Armenia to Germany in a straight line is 2934 km. If we consider those 4 factors above, the distance becomes 3550 km. This means that under equal conditions, Armenian businessmen have to spend more in order to enter the German market in order to overcome the mentioned 4 barriers. 

3264 km of the Netherlands becomes 3871 km, 1327 of Ukraine becomes 1335 km. the series can be continued: And in the case of EAEU countries, not only in the case of Russia, but also in the case of all countries, the distance is decreasing: This means that it is more profitable for an Armenian businessman to export to Russia and all other EAEU countries, including former USSR countries.

CAGE Distance Framework by Pankaj Jamawati (Pankaj Ghemawat) is a tool created by , which helps companies and analysts assess the real distance and risks between countries before entering the international market. It shows that distance is not just kilometers. CAGE is an acronym that consists of 4 main dimensions:

1. C- Cultural Distance

Differences between countries’ social norms, values ​​and communication.

What increases the distance? Different languages, religions, ethnic differences and levels of social trust.

The influence. Influences consumer preferences (eg food, media products) and business negotiation style.

2. A- Administrative Distance

Differences or connections between governmental, legal, and political systems.

What shortens the distance? Common history (eg former colonial ties or shared Soviet past), use of the same currency, membership of trading blocs (eg EAEU, EU).

What increases? Political hostility, sanctions, bureaucracy, protectionist (protecting the local producer) policy.

3. G- Geographic Distance

Physical and spatial factors between countries.

What does it include? Physical distance (in kilometers), presence of land borders, landlocked, time zone difference, climate and quality of transport/logistics infrastructure.

The influence. It directly affects transportation costs, speed of supply chains and communication.

4. E- Economic Distance

The discrepancy between countries’ economic development, wealth and resources.

What does it include? Per capita income (GDP), cost and quality of labor, access to infrastructure, technology and natural resources. 

The influence. Determines whether the local market has sufficient purchasing power, or whether it is profitable to establish production there (for example, at the expense of cheap labor). 

The main goal of the CAGE framework is to prevent companies from falling into the “global illusion”. It makes you see the hidden barriers that can fail even international programs that seem perfect on paper.

Thus, when, for example, in the case of exports from Armenia to Germany, the 4 barriers are calculated, the effective distance increases (although it is not so far physically), and in the case of Russia and the EAEU, on the contrary, it “reduces” due to integration and historical-cultural factors, making the market more accessible and profitable for the local exporter.

  • Agriculture is a strategic industry all over the world. Therefore, each country first of all develops its own agriculture, and this government first of all closed the Ministry of Agriculture (including the Ministry of Energy and Diaspora, the Institute of Geodesy, and all this was done on purpose, editor.). One should not be naive and think that the Swiss will not give preference to their own farmer and will buy our Armenian products.

  • If a country wants to close off another country’s trade, the easiest option is to use the phytosanitary tool. 
  • 2024 according to data, more than 90-95% of our total food exports went to Russia:
  • If we theoretically think that the customs channels for exports to Europe are cleared, and phytosanitary issues are resolved, the problem of serious business costs will arise. Why should the Austrian consumer prefer expensive Armenian tomatoes after leaving cheap Turkish tomatoes?
  • If the Europeans are so kind, instead of giving us money, let them put pressure on Turkey and open the border, because it is not the border of Turkey, but the customs border of the European Union.
  • No matter how much they feed us with promises about the establishment of apparent peace, I see what anti-Armenian speech is taking place at the Azerbaijani event held a few kilometers away…
  • We will see the most severe consequences of the actions that Russia has taken against Armenian businessmen, especially in September-October. The government cannot fully compensate the expenses of the Armenian businessman. it’s a serious burden. These companies will slowly end up starving for cash and going out of business and going bankrupt. Let’s not be childish. business people will have a very serious problem:
  • As a citizen, the decisions of this government that break the backbone of the economy and break the Armenian reality are unacceptable to me. It seems that they are constantly thinking of some kind of trouble to bring upon the country:
  • In finance, 50 50 cannot be 150, it is 100. If you increase some part of that 100 and give it in the form of a subsidy to the businessmen who are facing a problem as a result of your absurd policy, you have to reduce it somewhere to finance them.

There is bad news on the national debt. We have a deterioration in the debt-GDP ratio and debt service parts from 2022. Mortgage loans increased 6 times, construction loans – 5 times. Consumer loans also increased by 2.7 times. And a person takes a consumer loan to live. If consumer loans are growing faster than your wages, then middle- and low-income households are actually worse off. And let them not tell us that the people live well. Today, the people invest money in something that will not create new GDP, output, value, income for them in the future. 

  • The government has taken on too many current expenditure commitments. Only during the pre-election period, the pension increase put another burden of more than 70 billion on the budget, which we will not pay only this year, but also next year, and the year after that, and so on.

The second is cashless transactions, the third is mandatory health insurance. Yes, insurance is a great thing, but who’s going to pay for it? From 2027, the list of beneficiaries will increase, how will they do it? What are we going to do in the budget to mitigate the effects of these bomb blasts? First, some adjustments in expenses need to be made. Taxes will also increase, in particular, excise taxes have already been increased, some products are becoming more expensive and will become more expensive… The increase in taxes will be inevitable. The current costs I mentioned and others are a heavy fiscal burden, and that’s it business and citizens will bear the burden for the sake of forming the state budget.

  • The authorities and quasi-authoritarian forces are doing something dangerous. they do not speak honestly with people, they create expectations and dull people’s vigilance, and the latter cannot see their own head. Before you step into the ring, you need to consider your weight class. You can’t compete with 30kg against 130kg and fall embarrassingly to the ground after the first punch.
  • Pashinyan’s vulgar speech is very unpleasant for me. When someone welcomes that vulgar speech, which he directs to his competitors, benefactors, businessmen, he should understand that the businessman provides his income. Investors and businessmen are extremely literate. You don’t have to harm them so that they refuse to do business in your country. They see that a year ago Samvel Karapetyan was a benefactor for the state, but he protected the Church, became an enemy of the authorities and was targeted… This is an alarm. Let no one imagine or think that he is better than Samvel Karapetyan. If they did it to him, they will definitely do it to them too. CP-adjacent reasonable a businessman should always keep in mind that what happened to Samvel Karapetyan can happen to him:
  • Samvel Karapetyan’s assets are spread all over the world. it means that in all jurisdictions he has a toolkit. When they simply confiscate the National Energy and Mineral Resources under the allegedly bad management, let them clarify what they mean by that. But there is no such clarification. However, the numbers say otherwise. During the management of Samvel Karapetyan, HEC significantly improved its indicators and became a profitable company. And billions of profits were directed to investments:

  • If you don’t have financial security, forget about all the other components. For businessmen, the rules of the game should be transparent and not depend on the will of one person.
  • The last Putin-Pashinyan meeting was very telling, and Russia’s attitude today was very expected. Such talk usually occurs during closed meetings. Putin tried to talk about the problems in a public format, to talk to the Armenian people. Maybe if Pashinyan slapped Putin one more time, a group of people here wouldn’t sleep from joy, but then the same group won’t sleep at night from hunger.…
  • There is an atmosphere of fear in Armenia, but I don’t think that, for example, a resident of Kapan, Syunik, seeing the Azerbaijani flag and knowing about the atmosphere of anti-Armenianism in that country, will not have negative feelings. I can’t say when it will explode.

Details in the video.




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Armenian opposition members arrested after contesting election

Ophelia Vardapetian

World Jun 19, 2026 2:32 PM EDT

YEREVAN, Armenia (AP) — Several members of Armenia’s opposition were arrested Friday while a major pro-Russia party asked the top court to annul this month’s election win by Prime Minister Nikol Pashinyan’s ruling party, alleging electoral violations and suppression of the opposition.

The opposition Strong Armenia party appealed to the Constitutional Court to invalidate election results or call a second round of voting, and denounced the arrests of opposition politicians as an assault on democracy. Several other opposition parties followed suit, similarly accusing the ruling party of forcing public sectors workers to vote for it and bribing other voters.

The Armenian authorities have denied any electoral violations and have accused the opposition of bribing voters.

The court is set to decide in two days whether to hear the case.

FILE PHOTO: People attend an election campaign rally of the Strong Armenia party, ahead of the June 7 parliamentary election, in Yerevan, Armenia June 3, 2026. Hayk Baghdasaryan/Photolure via REUTERS

Final results of the June 7 vote released by the Central Election Commission showed Pashinyan’s Civil Contract party winning 49.7% of the ballot, allowing it to again form the government as it seeks to distance Armenia from Moscow and deepen ties with the West.

Observers have given the election mixed reviews. The Organization for Security and Cooperation in Europe (OSCE) said Armenian voters were offered a “genuine choice” while also noting that the campaign was “highly confrontational” and marked by allegations of electoral violations that led to many criminal cases against opposition candidates, raising a perception of “selective justice.”

Strong Armenia is led by Armenian-Russian billionaire Samvel Karapetyan, who made his fortune in Russia and has been under house arrest on charges of advocating for the government’s overthrow, accusations he has rejected as politically driven. Armenian investigators had issued six arrest warrants for members of Strong Armenia on the eve of polling day, accusing them of buying votes.

Several more opposition members were arrested Friday on similar charges of bribing voters.

Ruslan Barsegyan and Ashot Egiazaryan, who ran for parliament on Strong Armenia’s ticket, were put in custody for two months pending an official probe, while Asatur Kocharyan of the opposition Armenia bloc was placed under house arrest.

A former lawmaker and critic of the government, Ruben Akopyan, also was arrested on Friday, while another opposition politician, David Kazinyan, was put behind bars on Thursday.

Strong Armenia denounced the arrests as an “attempt to completely destroy democracy in the country.”

“Investigative bodies, the prosecutor’s office, and the courts have been turned by this government into instruments for punishing and suppressing the opposition,” it said in a statement. “We will not tolerate this and will fight to the end with the full force of the law and with determination.”

Mikayel Zolyan, an analyst and former lawmaker, described the arrests as part of the authorities’ efforts to prevent attempts by the opposition to destabilize the situation in the country. “Pashinyan is showing pro-Russian forces that if they think they can manage to incite unrest and thereby achieve certain goals … then they shouldn’t even try,” Zolyan said.

Russia, which has a military base in Armenia, has warned that Yerevan’s Western shift could have dire political and economic consequences. President Vladimir Putin has compared Armenia’s course to that of Ukraine in thinly veiled threats and suggested that Russia’s conflict with Ukraine was rooted in its bid to sign an association deal with the EU.

Moscow introduced a slew of trade sanctions in the weeks before the vote — imposing import bans on Armenian flowers, brandy, wine, fruits and more in a move described by the OSCE election monitors as “direct pressure” on Armenia’s vote. Russia said the bans were related to violations of agricultural import rules.

Yuras Karmanau in Tallinn, Estonia contributed to this report.




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