Will Russia help us...?

Today the tendencies of financial crisis already have their influence in Armenia. This is why Armenian authorities asked Russian Federation to provide them with financial aid.

Actually, today talks are being held to receive credit from Russia, Ria Novosti agency (rian.ru) reports referring to the words of A. Kudrin, Russian Minister of Finance: «We are holding talks with our Armenian partners to provide them with credit». Kudrin, however, said no details concerning the credit terms.

By the way, in 2008 Belarus turned to Russia with the same request. Then official Moscow agreed to provide the neighbouring country with 2 billion dollars. Half the credit was provided late 2008 and the second part is to be provided in 2009.

It is worth mentioning that in 2008 European press spread rumor about Moscow having provided a credit of 4 billion dollars to Iceland as the country had considerably suffered from world economic crisis. Moscow rejected the fact of having provided credit to Iceland and at the same time confirmed that, in fact, similar talks have been held.

Today Russia is one of the countries having most major resources of gold and currency, with tendencies to fall because of cut in oil and raw metal international price. Another reason for low financial scales is introduction of quite major volumes of currency into market by Russian Central Bank which aims at preventing the rate of Russian ruble from fall.

Anyway, even in these conditions, today Russia has quite powerful resources and, probably, Belarus, Iceland and Armenia are not to be the last to turn to Russia for financial aid.