Vestnik Kavkaza
Aug 8 2012

Armenian President Serzh Sargsyan is on a visit to Moscow where
he met Russian President Vladimir Putin and discussed key issues
of bilateral cooperation. Putin thanked Sargsyan for the positive
investment climate for Russian business. They decided to organize
a Russian-Armenian intergovernmental commission in autumn 2012 for
economic cooperation until 2020, RIA Novosti reports.

Russian-Armenian trade turnover reached $1 billion in 2011 and
increased by 32% in Q1 2012. Armenians working in Russia bring about
$1 billion back to Armenia every year. Sargsyan expressed hope for
doubling or tripling trade turnover in the next 2-3 years.

Gazprom (Russia) and the Armenian Ministry for Energy and Natural
Resources are rumoured to be negotiating adjustments to gas prices.

Gazprom is expected to increase gas prices from $180 per 1000 cubic
meters today to $280 on October 1 and $320 on January 1, 2013.

Armenian Minister for Energy and Natural Resources Armen Movsisyan
confirmed the negotiations without giving details. Higher gas prices
may cause public discontent in the light of the presidential polls
of 2013.

Yerevan is in need of loans, because the EU postponed the consideration
of the issue. Aykakan Zhamanak said that Armenia is having unofficial
negotiations with Russia to receive a loan of $0.8-1 billion.