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

Euro fell 4.82 points against the Armenian dram: Central Bank of Armenia

The average market exchange rate for the US dollar to the Armenian dram, formed on the Armenian foreign exchange market as of June 18, 2026, increased by 0.13 points compared to June 17, reaching 368.19 drams.

Armenia to Raise Dividend Tax on Banks Starting in 2027

At its session on Thursday, the National Assembly of Armenia adopted amendments to the Tax Code and the RA Law "On State Duty" in the first reading.

Reverse mortgages for pensioners and new property rights for spouses are being introduced in Armenia

At its session on Thursday, the National Assembly of Armenia adopted in the first reading amendments to the Civil Code of the Republic of Armenia, introducing the concept of reverse mortgages and a new type of property rights for spouses.

Moody’s Ratings affirms Unibank’s B1 ratings with a stable outlook

Moody's Ratings affirmed Unibank B1 long-term local and foreign currency bank deposit ratings and maintained the stable outlook.

Armenia records an influx of capital and growing interest from international investors – Central Bank head

Armenia is experiencing a significant influx of capital and growing interest from international investors, said Martin Galstyan, Chairman of the Central Bank of Armenia.

LATEST NEWS

spot_imgspot_imgspot_img