Thu, 19 February
10.1 C
Yerevan
USD: 377.69 RUB: 4.93 EUR: 446.88 GEL: 141.06 GBP: 512.37

There is a problem with cash in Artsakh

YEREVAN, August 7. /ARKA/. There is a big shortage of cash in Artsakh (Nagorno-Karabakh) due to the blockade by Azerbaijan, Artsakhpress news agency reported citing the Ministry of Finance and Economy.

“For the implementation of social programs approved by the government, payment of salaries and pensions and ensuring internal circulation of cash, we ask the citizens to cash out money from bank accounts as needed (restriction on cashing out has also been introduced), and keep free cash in bank accounts,” the ministry said.

The Lachin Corridor, the only road linking Nagorno-Karabakh with Armenia and the rest of the world has been closed by Azerbaijan since last December 12, leading to a humanitarian catastrophe, with supplies being halted, shelves empty, and medicine unavailable.

Late last month Armenia sent approximately 400 tons of vital humanitarian aid but the convoy of 19 trucks has been unable to reach the Armenian population due to the blockade.

The International Court of Justice and the European Court of Human Rights (ECHR) ordered Azerbaijan to open the corridor, however, despite the court’s order, the corridor has not been opened by Azerbaijan.

Nagorno-Karabakh children are among the most vulnerable victims, suffering due to the severe shortage of food and basic medicine. Elderly individuals are not receiving the support they need, as there are no supplies available.

The crisis has left the region without transportation options, as there is no petrol, and people are forced to wait for hours in long queues, just to purchase a single loaf of bread for their families. Natural gas and electricity supplies from Armenia were also disrupted by Azerbaijan.-0–

spot_img

POPULAR

“Team Holding” CJSC’s bonds listed on Armenia Stock Exchange

One of Armenia’s diversified companies, “Team Holding” CJSC, is officially entering the capital market today by listing bonds on the Armenia Stock Exchange (AMX).

Union of Banks of Armenia: cryptocurrency market is gaining momentum with 2-3 banks planning to obtain licenses

The Armenian cryptocurrency market is gaining momentum: 2-3 banks plan to obtain separate licenses to handle these operations, Daniel Azatyan, head of the Union of Banks of Armenia (UBA), stated in response to a question from ARKA news agency.

Armenian banks’ loan portfolio reached AMD 7.9 trillion in 2025 – Union of Banks of Armenia

The loan portfolio of Armenia's banking system increased to AMD 7.9 trillion by the end of 2025 from AMD 6.4 trillion in the same period of 2024, stated Daniel Azatyan, head of the Union of Banks of Armenia.

VTB (Armenia) Opens Renovated Office in Ashtarak

A renovated VTB (Armenia) office has officially opened in Ashtarak. The ceremony was graced by the presence of the bank's management, partners, clients, and special guests from regional branches.

Non-commercial money transfers to Armenia increased by 14.2% in December – WB

YEREVAN, February 17. /ARKA/. Net non-commercial money transfers...

LATEST NEWS

spot_imgspot_imgspot_img