Armenia: Armenia lost $670 Million from Russia-Georgia conflict

Dow Jones reports Armenian Prime Minister Tigran Sarkisian said yesterday his country suffered damages of $670 million from the August war between Russia and Georgia.

"Armenia has suffered serious damage from the Georgia-Russia conflict," he said at a session of the ex-Soviet republic's parliament. Officials have previously said Armenia's trade was disrupted and investors were scared off.

Georgia is a crucial transit country for Armenia, as neighbors Azerbaijan and Turkey have closed their borders with the country over its support for Armenian separatists in Azerbaijan's breakaway region of Nagorny Karabakh.

Published by Mike Hitchen, Mike Hitchen Consulting
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