Russian military to protect Russian business interest in Armenia

One of the leaders of Armenia's ruling Republican Party, MP Galust Saakyan mentioned that the extension of the term of the Russian military bases in Armenia is very significant from an economic point of view. Saakyan believes this decision is Russia's guarantee for economic cooperation. In particular the security complements those investment projects being implemented in Armenia with the support of Moscow, such as the nuclear power station construction and the Iran-Armenia railway. Saakyan thinks that although these projects will be implemented over 10-15 years, the 49-year term for Russian bases gives additional assurance to further develop economic cooperation.

Russian President, Dimitry Medvedev visited Armenia 19-20 August 2010. During the visit a new agreement was signed between two countries, which among other things sets outs the presence of Russian military bases in Armenia for the next 49 years.