Tsarukyan warns of lasting economic damage from loss of traditional export markets

Detained Armenian opposition leader and businessman Gagik Tsarukyan has warned that Armenia faces lasting economic damage if it loses its traditional export markets, saying regaining those positions would be "extremely difficult" and, in some cases, impossible.

In a statement released from Kentron Penitentiary on Monday, Tsarukyan said Armenia should continue expanding exports to Europe, the Arab world, the United States and other destinations, but cautioned that established markets cannot be replaced quickly.

"Entering new markets requires a gradual, well-planned and patient approach," Tsarukyan said. "You cannot build new economic ties by destroying existing ones."

The leader of the Prosperous Armenia Party (BHK) said he has consistently advocated national unity, cross-party cooperation and an end to efforts to divide Armenia's economy along geopolitical lines.

"Regardless of the injustices committed against me and my team, I maintain the same position today," he said, arguing that internal cohesion is indispensable at a time of mounting regional and economic challenges.

Tsarukyan acknowledged that his detention has limited his access to information but said he is aware of the difficulties confronting Armenian businesses. He warned that companies could lose years of investment and market development in a matter of weeks if current policies continue.

He also repeated his earlier claim that Azerbaijan is moving into markets that Armenian exporters are leaving, warning that once long-standing commercial positions are lost, reclaiming them can be exceptionally difficult.

"People who work in the real economy understand this very well," he said. "Those making decisions from government offices do not."

Tsarukyan called for immediate measures to protect Armenian businesses, workers and farmers from irreversible losses. Although he said his detention prevents him from contributing directly, he insisted that viable solutions remain available.

Addressing employees of his businesses affected by the situation, Tsarukyan said he believed justice would eventually prevail and that they would return to their jobs. He accused the authorities of deliberately disrupting operating enterprises and preventing thousands of people from working despite Armenia's already fragile economic conditions.

The opposition leader renewed his call for broad cooperation among political parties, independent experts and the Armenian diaspora, citing regional security and economic challenges, including tensions involving Iran and the United States, the Russia-Ukraine war, economic risks facing Armenia and what he described as Azerbaijan's ambitions.

"Many specialists want nothing to do with political parties," Tsarukyan said. "But they can make an enormous contribution to the country through their expertise and dedication."