Secretary of the Security Council of Armenia, Armen Grigoryan, stated during his speech at the Delphi Economic Forum in Greece that progress in negotiations with Azerbaijan is assisting his country in managing economic and security pressures.
Operative Information Center-OMM reports that he specifically emphasized recent diplomatic steps, such as the draft peace agreement and the "Washington Declaration," aimed at normalizing relations between the neighboring countries.
"Yerevan is close to signing a peace treaty with Baku. The peace declaration signed with Azerbaijan has brought real peace to our region and increased our ability to cope with the challenges created by regional conflicts that have a negative impact," - Grigoryan noted.
According to Grigoryan, despite global price fluctuations, the energy market has remained relatively stable. He stated that this stability is partly due to increased economic cooperation with Azerbaijan, including fuel imports that support domestic demand. Historically, Armenia has relied on Russia and Iran for gas, oil products, and electricity; however, the conflict in Ukraine and sanctions against Iran have created uncertainties in supply chains. Global tensions, particularly developments in the Middle East and the situation around the Strait of Hormuz, continue to directly affect energy markets.
The official concluded that closer economic ties with Azerbaijan have helped alleviate some of these pressures and reduced the impact of global price changes on the domestic market. This development follows Azerbaijan's efforts to ensure regional stability and the promotion of the "Peace Crossroads" concept, which aims to integrate regional transport and energy corridors. The normalization process is expected to further enhance the economic sovereignty of South Caucasian nations by diversifying energy sources and securing trade routes.
