Armenian MP Artur Ghazinyan from the opposition Hayastan (Armenia) alliance believes that President Armen Sarkissian’s resignation has “geopolitical overtones”.

Sarkissian submitted resignation late on Sunday, stating that the president does not have the necessary tools to influence the important processes concerning the domestic and foreign policy in difficult times for the country.

"Why now, on Sunday evening? A few days ago, Armen Sarkissian received funding for a 200 MW solar plant from the UAE, noting it was just the beginning. Events are unfolding very quickly, and the resignation has obvious geopolitical overtones,” the deputy wrote on Facebook.

“One thing is for sure: the political realities in Armenia have changed and further developments could lead to a complete change of power.

“We must be vigilant, sober and cautious. The existence of the Armenian statehood is at stake,” Ghazinyan said.