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Armenian Central Bank: Rise in Russian gas price would be ‘apocalyptic scenario’ for country

Governor of the Central Bank of Armenia Martin Galstyan

© APA | Governor of the Central Bank of Armenia Martin Galstyan

# 15 September 2026 15:45 (UTC +04:00)

If Russia raises the price of gas for Armenia, it will be an “apocalyptic scenario,” Governor of the Central Bank of Armenia Martin Galstyan said, APA reports.

According to him, such a development could have a twofold impact on the Armenian economy. Thus, the overall inflation rate will rise or an economic recession will occur.

Galstyan noted that if the price of Russian gas rises, neither Plan A nor Plan B, but Plan X will be implemented, and the Central Bank’s response to this should be non-standard.

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