BAKU, Azerbaijan, January 31. Recent start of fuel shipments from Azerbaijan is supporting market sentiment in Armenia, TurkicWorld reports via the Netherlands-based ING Group.
“Armenia’s latest data for 2025 shows economic activity holding up slightly better than expected. GDP growth remains resilient and is unlikely to slow meaningfully from the 5.8% recorded in 2024. Inflation surprised to the downside at 3.3% year-on-year in December, while the dram continues to firm up.
Meanwhile, the ongoing foreign policy normalization – highlighted by the recent start of fuel shipments from Azerbaijan – is supporting market sentiment. We are constructive on Armenia’s macro outlook for 2026. The improving geopolitical backdrop and a resilient currency create favorable conditions for inflation dynamics in 2026,” reads the report.
On October 21, 2025, President of Azerbaijan Ilham Aliyev, in a joint press statement with President of Kazakhstan Kassym-Jomart Tokayev, said that Azerbaijan had lifted all restrictions on cargo transit to Armenia that had been in place since the occupation period. The first such transit shipment was the delivery of Kazakh grain to Armenia.
On December 18, 2025, the State Oil Company of Azerbaijan (SOCAR) sent 1,220 tons of AI-95 gasoline to Armenia. Subsequently, on January 9, 2026, a total of 2,698 tons of fuel, including 1,742 tons of AI-95 gasoline and 956 tons of diesel, was dispatched in 48 railcars.
On January 11, a train of 18 railcars carrying 979 tons of AI-92 gasoline was also sent to Armenia.
Earlier, Armenian Prime Minister Nikol Pashinyan stated that diesel fuel prices in Armenia have declined following the establishment of peace with Azerbaijan.
“Today I learned that in the fuel market of the Republic of Armenia, diesel fuel has become cheaper by 20%,” he said.
