YEREVAN — Despite escalating political rhetoric and mutual accusations between Russia and Armenia, economic relations between the two countries have continued to strengthen, with significant growth in trade turnover.

According to Azeri-Press News Agency, economic data discussed during a recent meeting in Yerevan between Russian Deputy Prime Minister Alexei Overchuk and Armenian Deputy Prime Minister Mher Grigoryan revealed that trade turnover between Russia and Armenia grew by 55.8% in 2023, reaching $7.4 billion. In the first half of 2024, trade between the two countries rose to $8.4 billion, with expectations that it could reach between $14 billion and $16 billion by the end of the year. This sharp rise contrasts with the deterioration of political relations since 2020, following the 44-day war. Despite political tensions, economic ties have flourished, raising questions about the true nature of the relationship between the two nations and their interactions with the West.