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Economic Consequences of the Second Karabakh War for Armenia

December 22, 2020 20:32PM

Benyamin Poghosyan By Benyamin Poghosyan, PhD, Chairman, Center for Political and Economic Strategic Studies

The second Karabakh war ended with Armenia's capitulation. The unrecognized Nagorno Karabakh Republic lost approximately 75 percent of its territories, including parts of the former Nagorno Karabakh Autonomous Region within its 1988 borders. However, despite the clear defeat of Armenia, the conflict has not been solved. Azerbaijan was not able to invade the whole territory of Nagorno Karabakh and currently, some 3000 square km of the territory is being controlled by Russian peacekeepers effectively creating a de facto Russian protectorate. READ MORE

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