Money Transfers from Armenia to Russia for Relatives Begin

Due to the coronavirus pandemic in Russia, money transfers have decreased, while transfers from CIS countries, including Armenia, to Russia have increased, reports PanARMENIAN.Net.

In March 2020, money transfers from Russia to abroad decreased by 11 percent compared to January, as many migrants have lost their jobs in Russia.

The increase in money transfers from abroad to Russia is driven by the necessity to financially support relatives in Russia, including student children and retired parents residing in Russia.

The overall increase in money transfers to Russia in March reached 47 percent.

Alongside Kazakhstan and Tajikistan, Armenia has been listed among the countries from which individuals have sent the most money to Russia.

At the same time, Armenia continues to be one of the countries receiving the highest amount of money transfers from Russia in March.