India in the South Caucasus: Implications for Russia, Iran and Turkey

... trade zone continue between the parties, as New Delhi is now preparing to become an observer country of the EAEU in 2024. In this context, Armenia is perceived as a natural extension of the economic union capable of linking the EAEU and India. Third, India's arms supply to Armenia, Russia's only CSTO and EAEU ally in the region, strengthens Yerevan's military capabilities. This, in turn, helps level out the balance of power in the South Caucasus, reducing the risk of a new escalation, which is in line with Moscow's interests. Given Russia's inability ...