How might the new economic sanctions imposed by the US against Iran affect the relations between Armenia and Iran, as well as their joint projects?
Yesterday, the US Secretary of the Treasury announced sanctions aimed at cutting Iran's economic and financial ties with the outside world as much as possible. Last week, when the sanctions had not yet been published but the US had already announced the start of an economic war against Iran, the Prime Minister of Armenia stated that the Armenian government was concerned about the situation:
“Naturally, we are very concerned about the situation related to the United States and Iran, and we are also working very closely on this issue with both the United States and the Islamic Republic of Iran, and our desire is for this situation to be resolved as soon as possible,” the Prime Minister stated.
The new restrictions apply not only to Iranian companies and officials. The United States also warns banks and companies in third countries conducting economic transactions with Iran that they may cease financial operations due to their connection with Iran:
Economist and international relations expert Alen Shadunts states that Armenia's economic ties and trade with Iran are not significant enough to fall within the scope of US concerns:
According to official statistics, in 2025, the trade turnover between Armenia and Iran amounted to about $770 million, or 3.6% of Armenia's total foreign trade turnover:
There is also an agreement on the exchange of gas for electricity between Armenia and Iran, with both sides recently expressing a desire and possibility to significantly expand the volumes:
