Armenia chooses Russian trade deal over EU — RT Business

Armenia chooses Russian trade deal over EU — RT Business:

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Russian President Vladimir Putin (R) and Armenian president Serzh Sarkisian (L) shake hands as they exchange documents during a signing ceremony in Novo-Ogaryovo presidential residence outside Moscow, on September 3, 2013. (AFP Photo/Maxim Shemetov)

Armenia has decided to hang its hat with its former Soviet ally Russia instead of joining a European free-trade agreement, President Serzh Sarksyan announced after meeting with Vladimir Putin.

Armenia said it would join Russia in the Customs Union, as well as engage in the Eurasian integration process instead of negotiating a free trade agreement with the EU. The move is seen as a political victory for Putin, who has been rounding up former Soviet states to rival the EU, promising lower gas prices and other trade perks.

"Russia supports the decision by Armenia to enter the customs union ... We will fully work for this to happen," Putin said at the bilateral talk at his countryside house outside of Moscow ."

'via Blog this'