EU readies trade relief for Armenia after Russian import bans

{"text":[[{"start":13.35,"text":"The EU is preparing emergency trade relief for Armenia to help offset Russian import restrictions, as Brussels and Moscow compete for influence over the future of the Caucasian republic."}],[{"start":26.5,"text":"The European Commission is drawing up so-called autonomous trade measures that would lower tariffs on Armenian food and agricultural exports, according to four people briefed on the plans. The initiative comes in response to Russian import restrictions imposed before Armenia’s recent elections, which Brussels believes were intended to pressure the country’s pro-western government."}],[{"start":48.75,"text":"“Now is the time for us to step up and support them, and show that we can be a dependable partner,” said one of the people. “They need friends . . . and we need to protect our neighbourhood.”"}],[{"start":59.65,"text":"The measures, which require approval from a majority of member states and the European parliament, would cover most of the roughly 20 product categories targeted by the Russian bans, worth about €420mn a year, according to two of the people. Brussels is concerned that Moscow could intensify its trade pressure on the former Soviet republic, they added."}],[{"start":81.65,"text":"The proposals could be put forward within weeks, according to two other people."}],[{"start":86.25,"text":"EU foreign ministers discussed the matter with Armenia’s chief diplomat in Luxembourg on Monday, the officials said. EU enlargement commissioner Marta Kos is also set to travel to Armenia early next month."}],[{"start":99.6,"text":"“The Commission will propose autonomous trade measures to help more Armenian businesses access new market opportunities in the EU and support the country’s economy where it has been most affected,” commission spokesperson Olof Gill told the FT."}],[{"start":113.94999999999999,"text":"Armenia is part of a Russian-led customs union that gives Moscow a stranglehold over the country’s imports and exports and also complicates efforts by the EU to strike preferential trade deals with Yerevan."}],[{"start":126.29999999999998,"text":"In the lead-up to the country’s June 7 parliamentary elections, Russia imposed various bans starting with Armenian flowers, citing phytosanitary concerns. "}],[{"start":null,"text":"

"}],[{"start":137.54999999999998,"text":"Measures targeting mineral water, wine and brandy, fruit and vegetables and fish swiftly followed. Three days before the vote, the EU said it would provide financial aid and buy up thousands of flowers that previously would have been sent to Russia. "}],[{"start":152.45,"text":"Despite the pressure, Prime Minister Nikol Pashinyan’s pro-western party won the vote.“The recent EU measure, at €50mn, was more of a facilitation to buy up the flowers and other goods. That came very quickly . . . and demonstrated that the Russian move was counter-productive,” said Richard Giragosian, founder of the Regional Studies Center, an independent think-tank in Yerevan. “The EU now wants to take this export facilitation further.”"}],[{"start":178.35,"text":"Two of the officials said that brandy, one of Armenia’s core exports, posed some issues for EU officials drawing up the support measures, given the importance of cognac production for France."}],[{"start":189.29999999999998,"text":"There is also the difficulty of moving perishable goods from the landlocked country through Turkey or Georgia. "}],[{"start":196.39999999999998,"text":"Giragosian warned that the scale of Russia’s role in Armenia’s trade meant that the proposed measures would be only “temporary or limited”. He added: “It is not enough to offset Russian dominance, so it’s more of a stopgap.” "}],[{"start":215.95,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1781685070_6669.mp3"}