The head of the Central Bank of Armenia called a possible increase in gas prices an apocalyptic scenario
Martin Galstyan said that Russia's possible increase in gas prices will be a type X scenario
Quick Look
- The head of the Central Bank of Armenia, Martin Galstyan, said that a possible increase in gas prices by Russia would be an “apocalyptic” type X scenario with a double effect and rising inflation.
- Armenia is almost completely dependent on supplies from the Russian Federation.
AI-generated summary
Why It Matters
Armenia almost completely meets its gas needs through supplies from Russia.
A possible increase in gas prices by Russia for Armenia will be an apocalyptic scenario. This is how the head of the Central Bank of the Republic Martin Galstyan described the development of events, his words are quoted by Tert.
According to the top manager, such a step on the part of Russia does not fit into plans A and B, and will have a double effect, primarily with an increase in the overall level of inflation.
“So we kept this scenario in mind, took it into account. From our point of view, this is a type X scenario, not A or B, it rather suggests something apocalyptic, and the reaction to it should be stronger. Therefore, at the moment we are moving as usual, keeping in mind the possibility of such problems arising,” Galstyan explained.
Armenia almost completely meets its needs from Russian gas. In 2025, Gazprom supplied about 2.7 billion cubic meters of gas to the country. About 476 million more a year comes from Iran as part of the Gas-for-Electricity program.
Open Questions
- Does Russia actually plan to increase gas prices for Armenia?
- What specific preventive measures is the Central Bank of Armenia preparing?
