Over 100,000 Russian Citizens Relocated to Armenia Last Year, Says Minister Karobyan

More than 100,000 Russian citizens moved to Armenia last year. The net resettlement during the past year has been approximately 108-110 thousand, meaning that this many Russians have relocated to Armenia and remained for permanent residence.

In an interview with Vedomosti, Armenia's Minister of Economy Vahan Karobyan presented such data.

According to Karobyan, on average, Russians open about 500 businesses annually in the Republic. Last year, 2,500 legal entities with Russian participants were registered, as well as 4,000 individual entrepreneurs. Some companies employ as many as 600-700 people, the Minister added.

Karobyan noted that the influx of Russians has contributed significantly to the economic growth of Armenia, accounting for more than 3 percentage points of the overall 12.6% growth.

Additionally, Karobyan mentioned that Moscow and Yerevan have completely abandoned settlements in dollars and euros, opting instead to use national currencies. He stated that the Armenian dram is currently more preferable as it is less unstable than the ruble, having strengthened against the dollar by nearly 20% over the past year.

Karobyan also indicated that this summer, Russians may be able to travel through Armenia to Turkey. The border between the two countries has been closed for 35 years; however, there is now an agreement to open it for citizens of third countries.

Moreover, the periodical RBC reports that neighboring countries of Russia have also noted a significant flow of Russians in 2022. According to Georgia's Ministry of Internal Affairs, 112,000 Russian citizens arrived in Georgia in the first nine months of last year.

According to Kazakhstan's Ministry of Internal Affairs, between late September and early October, when a partial mobilization began in Russia, over 200,000 Russian citizens entered Kazakhstan, of whom about 147,000 have since departed. It has been noted that the influx of Russians had a positive impact on the economies of both countries, with Georgia's economy growing by more than 10% and Kazakhstan's by over 3%.