Author: Liana Toganian

3.5 Years After Its Creation, ANIF Posts Net Income

Liana Toganian

 13:49,

YEREVAN, JULY 20, ARMENPRESS. The Armenian National Interests Fund, ANIF, has finalized audited financial statements for FY2022. These are available in full on the ANIF website in both Armenian and English.

ANIF’s equity is valued at 6 billion 883 million AMD (around USD 17.8m) and the net profit recorded over the past year is more than 1 billion 760 million AMD (around USD 4.6m). Amongst other highlights, since the launch of Armenia’s national carrier FlyArna, ANIF’s joint venture with Air Arabia, the value of our jointly owned airline has increased to just under USD 27m, providing significant value to ANIF’s sole shareholder, the Armenian State. 

Commenting these results, ANIF’s CEO David Papazian, added " In just 3,5 years of its existence, during which our country went through major shocks, ANIF has posted a net profit. Our 200MW AYG-1 photovoltaic solar plant, a joint venture with Masdar of the United Arab Emirates, is expected to enter construction by the end of this year, providing further significant upside for ANIF. We look forward to continuing work with domestic and foreign partners to fuel and diversify Armenia’s economy”.

Armenia emerges as key trade route for used cars to Russia bypassing Western sanctions

Liana Toganian
BNE Intellinews

Most cars arrive in the region primarily from the US through the Black Sea port of Poti in Georgia. Many of these vehicles are transported to Armenia for customs clearance, as the country shares a customs-free trade bloc with Russia. / bne IntelliNews
By bne IntelliNews 

The  trade in used cars from Armenia to Russia has experienced a significant surge since Russia invaded Ukraine, as Western car brands have become scarce due to sanctions, the Financial Times reported.

Rows of damaged vehicles line the outskirts of Gyumri, Armenia's second-largest city, as young Russian traders capitalise on the booming trade route, reported the FT. This influx of exports, not only in cars but also in various goods, has contributed to Armenia's remarkable economic growth but has frustrated Western capitals seeking to enforce export controls. Despite concerns, the trade route through Armenia flourished. 

Armenia has re-exported massive amounts of cars to Russia since the invasion of Ukraine. The exports increased from $800,000 in January 2022 to over $180mn in the same month in 2023.

While cars are the most prominent example, exports of other goods from Armenia to Russia have also surged, leading to nearly double the trade volume between the two countries in 2022.

Due to Western sanctions and the departure of multinational corporations, Russian consumers have turned to third countries to find what they are missing, making countries like Armenia, Turkey, and Kazakhstan central to a bustling new trade route for consumer goods.

This has contributed to a significant economic boom for Armenia, with its gross domestic product recording a record growth of 13% in 2022, more than double the previous year's rate.

However, this situation has also caused frustration among Western capitals. In March, US officials listed Armenia among the countries used to "smuggle prohibited goods" into Russia. The EU's latest sanctions package targeting third-country circumvention includes entities in Armenia as offenders.

During the past few months, two companies registered in Armenia have been sanctioned. Medisar LLC, which is an importer of chemicals and laboratory equipment, was sanctioned in May by the US Department of Commerce, and the Treasury Department's Office of Foreign Assets Control sanctioned TAKO in April, which is in the wholesale of electronic and telecommunications equipment and parts.

The Armenian government vehemently denies these accusations. In March, Prime Minister Nikol Pashinyan stated that reports of sanctions circumvention are mere rumours and "the reality is just the opposite".

According to the Armenian foreign ministry, the country's leadership has publicly committed to restricting trade in all risky items. They are closely cooperating with the US and the EU and have implemented strict controls over a list of items the Russian military could use.

Russians have sought foreign cars since the US banned all light vehicle exports to Russia, whether new or used. The EU has also imposed bans on exporting vehicles valued above €50,000 and recently expanded the restriction to include larger cars with engine sizes of around two litres or more.

Many foreign car companies have sold off their production plants and closed dealerships in Russia.

The FT reports that according to brokers and buyers, most cars arrive in the region primarily from the US through the Black Sea port of Poti in Georgia. Many of these vehicles are transported to Armenia for customs clearance, as the country shares a customs-free trade bloc with Russia.

Gyumri is a central hub from which these vehicles travel north to Russia by road, passing through Georgia once again.

In January 2022, before Russia invaded Ukraine, Armenia imported cars worth $2.8mn from the US. However, a year later, that number skyrocketed to $29.5mn. Since then, the import rate has continued to climb. Armenia imported US cars worth $34mn in April of this year.

https://www.intellinews.com/armenia-emerges-as-key-trade-route-for-used-cars-to-russia-bypassing-western-sanctions-284884

Ambassador of Lithuania presents credentials to President Khachaturyan

Liana Toganian

 16:55, 4 July 2023

YEREVAN, JULY 4, ARMENPRESS. Ambassador of Lithuania Andrius Pulokas presented his credentials to President of Armenia Vahagn Khachaturyan on July 4.

President Vahagn Khachaturyan congratulated the newly appointed ambassador on assuming office and wished him success in fulfilling his responsible mission, the presidency said in a readout.

"The cooperation between our two countries covers quite a wide range and I am confident that through your appointment we will truly activate and expand its scope. Therefore, we have a lot to do. I am pleased to congratulate you once again on your appointment," President Khachaturyan noted.

Ambassador Andrius Pulokas expressed gratitude for the reception and noted, "For me, it is a special mission to make our friendship, our relations and cooperation more comprehensive and visible for our peoples and society."

During the meeting, the President highly valued the friendly relations and cooperation established between Armenia and Lithuania since the independence of Armenia both on bilateral and international platforms. The President specifically emphasized the effective cooperation of the two countries within the framework of the European Union and the Eastern Partnership.

Touching upon the Armenian-Lithuanian close cooperation, the newly appointed Ambassador noted that the visit of President Vahagn Khachaturyan to Lithuania at the beginning of the year significantly fostered the cooperation in trade, economy, business and other spheres of the two countries.

During the discussion, President Khachaturyan introduced the details of the implemented and ongoing reforms in the domestic life of Armenia, continuous changes and flexible developments in the economy. The President emphasized that the present Government pays special attention to the fields of science and high technology which is another opportunity for effective interaction and the use of Lithuanian best practices in these fields.

In the course of the meeting, the sides discussed the issues and opportunities related to the exercise of the existing potential of cooperation between Armenia and Lithuania in the fields of trade, economy, education, science, high technologies and digitalization.

Both sides emphasized mutual high-level visits between the two countries and the promotion of multi-level cooperation resulting from them.

Armenian soldiers killed by Azerbaijani forces in Nagorno-Karabakh

Liana Toganian

Four Armenian soldiers were killed on Wednesday by Azerbaijani fire in Nagorno-Karabakh, said separatist authorities in the breakaway region, which has been at the centre of a decades-long territorial dispute between the Caucasus enemies.

On Wednesday morning, "units of the Azerbaijani armed forces opened artillery fire" on Armenian positions, the Artsakh Defense Army said, adding there were "four servicemen who were killed in action as a result of another provocation by Azerbaijan". 

In a later statement the group said that the situation along the border was now "relatively stable".

The news came as the United States mediates three days of new peace talks between Armenia and Azerbaijan, in its latest attempt to quell a conflict that has flared repeatedly.

Secretary of State Antony Blinken opened closed-door talks with the adversaries' foreign ministers just outside Washington on Tuesday, in the second such negotiation session he has led in as many months.

Russia has historically been the mediator between the two former Soviet republics but the United States and European Union have been increasingly active as Moscow gets bogged down in its invasion of Ukraine.

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Armenia has repeatedly accused Russian peacekeepers of failing to live up to promises to protect ethnic Armenians in line with a 2020 ceasefire negotiated by Moscow after six weeks of fighting left thousands dead.

Russia last week pressed Azerbaijan to let traffic through the Lachin corridor that links Armenia to Nagorno-Karabakh – a predominantly ethnic Armenian area effectively controlled by Yerevan since war during the collapse of the Soviet Union.

The International Committee of the Red Cross said Azerbaijan had blocked access for convoys delivering aid to Karabakh, raising concerns of shortages of food and medicine.

Azerbaijan has insisted that civilians and aid convoys can travel through.

(AFP)

https://www.france24.com/en/europe/20230628-four-armenian-soldiers-killed-by-azerbaijani-forces-in-nagorno-karabakh-separatists-say

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VIDEO: Azerbaijan Again Opens Fire On U.S. Affiliated Facility in Yeraskh

Liana Toganian
by Asbarez Staff

 

 

 

in Armenia, Artsakh, Latest, News, Top Stories

GTB Steel that operates the U.S. affiliated company targeted by Azerbaijan raised the American and Armenian flags at the construction site on June 20


Hours before the foreign ministers of Armenia and Azerbaijan met Tuesday in Washington for peace talks, Azerbaijani forces continued their ongoing attacks on a U.S.-affiliated company’s construction site in Yeraskh in Armenia’s Ararat Province.

GTB Steel, the U.S. affiliated company that is constructing a steel mill in Yeraskh, released footage of Tuesday’s attack. Azerbaijani forces began firing at the construction site on June 13, when two Indian nationals working on the project were injured.

Armenia’s Defense Ministry reported that at 1:15 p.m. local time on Tuesday Azerbaijani forces opened fire at the site.

While the State Department voiced concern soon after the June 13 incident, Azerbaijani forces have continuously attacked the facility, with official Baku claiming that the project poses environmental risks to nearby Nakhichevan.

Last week, per a decision of the GTB Steel board of directors, the flags of the U.S. and Armenia were raised at the construction side, with company officials vowing to continue the working on the project.

Asbarez: Steve Artinian, Veteran Homenetmen Leader and ANCA-WR Activist, Passes Away

Liana Toganian
by Asbarez Staff

 

 

 

in Featured Main, Latest, News, Top Stories
Steve Artinian


Steve Artinian, a veteran leader of the Homenetmen Western U.S. and an activist of the Armenian National Committee of American-Western Region passed away on June 18 in Los Angeles. He was 63.

The news of Artinian’s death on Sunday sent Armenian-American community of the Western United States into mourning as he was an integral part of several institutions that impact the community on a daily basis.

From the annual Homenetmen Navasartsian Games and its Victory Balls, to the ANCA-WR Grassroots Conferences and annual banquets, to the March for Justice marking the centennial of the Armenian Genocide, which drew more than 160,000 participants in Los Angeles, Artinian had a pivotal role in making these signature events a success by rally the community to join the cause.

In announcing his passing, the Homenetmen Western U.S. said that Artinian served for many years as a member of the Regional Executive and as chair. He was also involved with the planning, organizing and execution of the Homenetmen Navasartian Games for decades. Most recently, he was chairman of upcoming Navasatian Games Victory Ball.

Artinian was the recipient of Homenetmen’s “Special” medal in 2019. An award
bestowed upon him by Homenetmen Western US Region’s Executive Board for his dedication
and service to the organization.

“Yeghpayr Steve was a committed volunteer, always ready to serve where he can. He believed as
organizations, our greatest assets are our members and volunteers as well as our supporters and
donors. He was a believer of unwavering inclusiveness. He valued the diversity in talent and
experience and he believes in positive change and growth,” the Homenetmen Western Regional Executive said.

“ The Homenetmen Western US Region, its Councils and Committees as well as its Chapters all mourn the loss of Yegh. Steve Artinian. Our prayers go out to his wife, his family, his friends, and to his Homenetmen brothers and sisters from around the world. May he forever rest in peace, may,” added the organization’s executive. “May God bless his soul, and provide patience and perseverance to his loved ones through these difficult times.”

The ANCA-WR also is mourning Artinian’s passing with its board and staff saying they “are deeply saddened by the unexpected passing of a beloved and dear member of our ANCA-WR family.”

“For over a decade, Steve has been a dedicated and loyal leader in everything we have done to advance the Armenian Cause. With his gentle demeanor, kind heart and unwavering commitment, he has selflessly devoted his time, talent and expertise to every project. Steve has been singularly responsible for lifting us up to new heights, optimistically promising success at every juncture and then inevitably delivering it by surpassing even his own expectations with each passing year,” added the ANCA-WR.

“From our America We Thank You tribute to Near East Relief, to our biennial ANCA-WR Grassroots Conferences, to our Annual Gala Banquets, to our HyeVotes initiative, to the leadership he brought to the community-wide Armenian Genocide Centennial March for Justice, to our ANCA Telethons, and everything in between, Steve has undertaken every task with humility and creativity and has left a lasting legacy on our organization and on our community that will never be forgotten. We are so grateful to him for the unflappable passion and vision he brought to us every single day,” said the ANCA-WR.

“Initially serving as an integral member of our ANCA-WR Board of Directors and then continuing to generously lead many vital committees with his creative vision on multiple projects, Steve has been an essential, steadfast, reliable and truly irreplaceable member of our team. He leaves us with broken hearts and a void that will be impossible to fill,” the ANCA-WR explained.

In extending their condolences to the Artinian’s family, the ANCA-WR Board and staff said, “Steve’s memory will continue to live on forever in our hearts and in everything we do.”

“We have learned so much from him and with boundless gratitude, we will strive to maintain the level of professionalism, dedication and vision that he brought to everything he did for us. May our beloved Steve soar with the angels and rest in peace in God’s light. We will truly miss him,” added the ANCA-WR.

Artinian was also a staunch supporter of the Asbarez and its mission. On numerous occasions, he touted the importance of the publication and its reach to a wide cross-section of the community, as well as the role it plays — as a vital institution — in advancing the Armenia Cause.

Artinian embodied the Homenetmen motto of “Elevate Yourself and Other With You.” He rose to every occasion and brought his unique professional and personal knowledge, but most importantly, his firm conviction and dedication to any endeavor.

“I love being Armenian,” Artinian said on his Facebook profile. That encapsulates the person he was.

Etchmiadzin Again Warns Against ‘Humiliating’ Agreement Undermining Artsakh

Liana Toganian
by Asbarez Staff

 

 June 12, 2023

 

in Armenia, Artsakh, Featured Story, Latest, News, Top Stories

The Supreme Spiritual Council of the Holy See of Etchmiadzin was held from June 5 to 8


The Holy See of Etchmiadzin again called on Armenia’s authorities to refrain from taking steps that would endanger Artsakh and the Armenian nation.

The Holy See’s Supreme Spiritual Council convened in Etchmiadzin from June 5 to 8 and over the weekend published a statement expressing concern over the “disastrous developments around Armenia and Artsakh.”

The statement said that the SSC specifically was concerned about “the danger of genocide threatening the people of Artsakh as a result of the blockade and the encroachments on the sovereign territories of Armenia.”

In its statement, the SSC also “emphasized that the authorities of Armenia should refrain from actions that violate the dignity of the nation and oppose the humiliating ambitions and demands of foreign enemies with realistic and exclusively pro-Armenian positions, resolutely defending the non-negotiable right of the people of Artsakh to self-determination.”

The meeting, which was also attended by Artsakh Foreign Minister Sergey Ghazarian, “expressed its support to the people and authorities of Artsakh, noting also that the just right of the people of Artsakh to live freely and independently will find protection within all national frameworks.”

This rebuke of Armenia’s authorities was the second time in a month that the Holy See of Etchmiadzin was vocalizing its concern for Artsakh’s right to self-determination.

Late last month both Karekin II, the Catholicos of All Armenians and Aram I, the Catholicos of the Great House of Cilicia separately cautioned the Armenian government against undermining Artsakh’s independence and right to self-determination.

They called Prime Minister Nikol Pashinyan’s statement that Armenia has committed to recognizing Azerbaijan’s 86,600 square kilometers of territory—that includes Artsakh—“unacceptable.”

“By recognizing the Republic of Artsakh as a part of Azerbaijan, the Armenian authorities would inevitably leave our brothers and sisters in Artsakh facing a new genocide and loss of the homeland,” read a statement issued by the Supreme Spiritual Council of the Holy See of Etchmiadzin after convening an emergency session in May.

“On December 10, 1991, Artsakh already expressed its collective will for sovereignty through a referendum, which was followed by a decision, on July 8, 1992, by the Supreme Council of the Republic of Armenia, which re-emphasized the sovereignty of Artsakh,” said the Cilician Catholicosate at the time.

“According to international law, a nation has the right to self-determination. Therefore, the just right of the people of Artsakh to determine for themselves cannot fall victim to attempts to establish a comprehensive peace within the region and to recognize the territorial integrity of Azerbaijan,” the Antelias statement added.

Music: Armenian Cello Concertos

Liana Toganian
June 14 2023

Alexander Chaushian (cello); Armenian National Philharmonic Orchestra/Eduard Topchjan (BIS)

Our rating 🌟🌟🌟🌟🌟 5 out of 5
By Michael Church


Armenian Cello Concertos
Works by Khachaturian, Babajanian, Michel Petrossian
Alexander Chaushian (cello); Armenian National Philharmonic Orchestra/Eduard Topchjan
BIS BIS-2648 (CD/SACD)   68:30 mins

Is there such a thing as an Armenian sound? The three concertos gathered here might suggest there is one, if you go by the liner note. Alexander Chaushian makes much of the Armenian and Georgian folk elements in the Khachaturian work, talking of its Georgian dances and its use of the (Armenian) Ashug improvisatory style, while Michel Petrossian, introducing his own concerto, goes on at length to explain how Armenia’s holy mountain – Ararat – has inspired both the work’s texture and its structure.

Its title, he says, refers to the first mention of Ararat in the Book of Genesis, and the proportions of his work correspond symbolically to the proportions of the mountain; he then goes into detail about the contrasts between the writing for each movement, and points to the incorporation of Armenian and Byzantine liturgical chants. But you’d have to listen with extremely close attention to this 12-minute work if you wanted to catch everything the composer says he has put into it. It’s highly condensed, with the cello moving gracefully through thickets of sound created by strings, high woodwind and piano, and it invites us into an interesting sonic environment, but there’s little discernibly Armenian in that sound.

Babajanian’s Concerto does in several ways sound a dark mysteriousness which might be thought Armenian. But its beauty lies in its finely wrought effects, brought into high relief by the refinement of Chaushian’s playing.

Khachaturian – often celebrated as the musical voice of Armenia – is represented by a work which has echoes of his ballet Gayaneh. But essentially it’s a mid-century European work, full-bloodedly tonal, and rich in invention, and Chaushian’s expressive style highlights its many virtues. I immediately needed to listen again, to savour both the effects and the brilliance with which they are knitted together.

Michael Church



BTA. Annual Inflation Slows Down to 8.6% in Bulgaria, 7.1% in EU

Liana Toganian

 14:55,

YEREVAN, JUNE 16, ARMENPRESS. Consumer prices in Bulgaria were up by 8.6% in May on annual basis, while on a monthly basis – in May compared to April – they fell by 0.2%, the latest Eurostat data, published on Friday, show.

The annual rate of change of consumer prices in the European Union eased to 7.1% and in the euro area it declined to 6.1%

In May, relative to April this year, consumer prices in both areas remained unchanged.