Armenia severely affected by Western sanctions against Iran

The western sanctions against Iran have had dire consequences for Armenia, including an acute shortage of food and agricultural products in the country, Fars news agency reported.

According to a report by the Armenian MIR TV, the western sanctions have caused a halt in the supply of polymeric raw material from Iran to Armenia for the past two weeks, which entails negative consequences for the country’s agricultural sector and processing industry.

The report also said that tens of companies and factories in Armenia were shut down due to the shortage of raw materials which were imported from Iran. Meanwhile, exporting these products from other countries will take about 30-40 days, which will likely result in a hike in prices and lower quality.

Also, Armenia is faced with a shortage of sulfuric acid and caustic materials used for water purification due to the western sanctions against Iran, added the report.

The Union of Manufacturers and Businessmen (Employers) of Armenia (UMBEA) has addressed Prime Minster Tigran Sargsyan with a request to help resolve the problem, it said.

In recent years, Iran and its Northern neighbor Armenia have boosted cooperation, signed agreements on energy cooperation and agreed to cooperate in technology and research and to enhance ties in commerce and economy.

Iranian President Mahmoud Ahmadinejad and his Armenian counterpart pledged in December 2011 to further expand “high-level relations” between their nations and, in particular, give new impetus to the implementation of joint energy projects that have fallen behind schedule.

In early October, Iranian Foreign Minister Ali Akbar Salehi and his Armenian counterpart Edward Nalbandian met at the UN Headquarters in New York to discuss bilateral ties and regional and international issues.