Haykakan Zhamanak: Armenia negotiating purchase of Russian gas in Roubles

The Armenian Government is said to be seeking Russia's consent over carrying out natural gas purchase in the Russian Rouble.

The paper notes that Armenia now annually pays $350-$450 million to the country for the fuel’s supply.

Citing its sources, the paper says that the issue will be on the agenda of upcoming talks between the Armenian and Russian prime ministers (a delegation led by Premier Hovik Abrahamyan reportedly leaving for Moscow on Thursday).  The paper notes that there is little if any hope that Russia will agree to carry out the entire transaction in Roubles.  The problem, according to the paper, is that Russia annually pays about $200 million to Armenia for its 102nd military base stationed in the second largest city of Gyumri.

In a deal which the sides will most likely reach, the Russian Government will agree to transfer the 200 million to Gazprom, says the paper, while Gazprom Armenia will pay its 200 million Dollars for the 102nd military base to the Armenian Government

“Thus, Armenia will pay only 150-200 million Dollars in a foreign currency for gas, the remaining fee to be covered in Russian Roubles. This can essentially reduce the currency market tension observed at peak moments of making the payment for gas,” comments the paper.