The European Union is preparing an ​economic support package worth an ‌initial amount of €50 million ($58.1 million) for Armenia after Russia ​hit Armenia with some ​trade restrictions, European Commission President ⁠Ursula von der Leyen ​said on Thursday.

“Today I spoke ​with Prime Minister Nikol Pashinyan about Russia’s recent restrictions targeting Armenia. ​This is nothing ​short of economic coercion, and it ‌is ⁠unacceptable,” said von der Leyen.

“By extending export restrictions on Armenian products, Moscow is ​weaponising ​economic relations ⁠for political pressure. We know this ​playbook all too well. ​This ⁠is why Europe stands firmly with Armenia. We ⁠are ​preparing an EU ​support package.”