Yemeni currency is expected to continue recovering

Ahead of key parliamentary elections,scheduled to be held in Armenia on Sunday, 7 June, Russia continues to attempt to put pressure on the Armenian Government led by prime minister Nikol Pashinyan. On 30 May, Russia recalled its Ambassador to Yerevan for consultations. A terse statement, published on the website of the Russian Foreign Ministry, said, "The Ambassador of the Russian Federation to the Republic of Armenia , S.P. Kopyrkin, has been summoned to Moscow for consultations in connection with the steps taken by the Armenian leadership to move closer to the European Union, which are detrimental to cooperation within the EAEU." This followed a statement issued the day before, by the leaders of the Eurasian Economic Union (EAEU) that challenges the Armenian trajectory towards approximating to the European Union. Vladimir Putin is undertood to have personally pushed the other four EAEU leaders to issue the statement, which said: "Taking into account the significant risks to the economic security of the member states of the Eurasian Economic Union (hereinafter referred to as the Union) arising in connection with the preparation of the Republic of Armenia for accession to the European Union, as well as the need to prevent the associated damage to the member states of the Union: decided that the members of the Eurasian Intergovernmental Council from the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation will report at the next meeting of the Supreme Eurasian Economic Council in December 2026 on the possible consequences of the suspension of the Treaty on the Eurasian Economic Union with respect to the Republic of Armenia. We share the position on the need to hold a national referendum in the Republic of Armenia as soon as possible on joining the European Union or continuing to be part of the Eurasian Economic Union."

The leaders of the states of the Eurasian Economic Union (EEAS) issued a tough statement warning fellow-member state Armenia of the consequences of its desire to join the European Union. The stark, sharply worded,  warning, comes days before crucial parliamentary elections in Armenia, scheduled for 7 June. The full statement said, “We, the Presidents of the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation, Taking into account the actions of the Republic of Armenia aimed at joining the European Union, including the approval in 2025 by the National Assembly of the Republic of Armenia and the signing by the President of the Republic of Armenia of the Law of the Republic of Armenia "On the Start of the Process of Accession of the Republic of Armenia to the European Union", as well as the confirmation by the European Union of the European aspirations of the Government of the Republic of Armenia, expressed in the joint declaration following the first Armenia-European Union summit, adopted on 5 May 2026, Taking into account the significant risks to the economic security of the member states of the Eurasian Economic Union (hereinafter referred to as the Union) arising in connection with the preparation of the Republic of Armenia for accession to the European Union, as well as the need to prevent the associated damage to the member states of the Union: decided that the members of the Eurasian Intergovernmental Council from the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation will report at the next meeting of the Supreme Eurasian Economic Council in December 2026 on the possible consequences of the suspension of the Treaty on the Eurasian Economic Union with respect to the Republic of Armenia. We share the position on the need to hold a national referendum in the Republic of Armenia as soon as possible on joining the European Union or continuing to be part of the Eurasian Economic Union. Astana, May 29, 2026” A meeting of the Supreme Eurasian Economic Council was held in Astana, Kazakhstan, on May 29, 2026. The meeting of the Supreme Eurasian Economic Council in a restricted format was attended by Russian President Vladimir Putin, Belarusian President Alexander Lukashenko , Kazakh President Kassym-Jomart Tokayev , Kyrgyz President Sadyr Japarov , Armenian Deputy Prime Minister Mher Grigoryan, and Chairman of the Board of the Eurasian Economic Commission Bakytzhan Sagintayev. From the Russian side, the meeting was also attended by Deputy Prime Minister and member of the Council of the Eurasian Economic Commission Alexey Overchuk and Presidential Aide Yury Ushakov . The heads of delegations from EAEU observer states, including President of Uzbekistan Shavkat Mirziyoyev , Vice President of Cuba Salvador Valdés Mesa, Minister of Industry, Mines, and Trade of Iran Mohammad Atabak, and CIS Secretary General Sergei Lebedev, joined the expanded meeting . Following the meeting of the Supreme Eurasian Economic Council, a number of documents were signed .