MOSCOW, April 23 (UPI) -- Russian President Dmitry Medvedev met with his Armenian counterpart Thursday for talks on broader trade relations in the energy sector amid regional concerns.
Medvedev welcomed Armenian President Serzh Sargsyan to discuss bilateral trade relations and efforts to overcome the global economic recession.
Russia meets all of Armenia's gas demand currently. Iran and Armenia moved recently on a pipeline to exchange gas for electricity, but Armenian officials say that will not impact the gas relationship with Russia.
The Russian energy company Gazprom raised its stake in the joint ArmRosGazprom to 80 percent in March. RIA Novosti reported Thursday the talks between both countries will focus on energy and economic cooperation.
In February, Russia offered Armenia a $500 million economic stimulus package to prop up the domestic economy during the global recession. Trade between both countries in 2008 rose 9.5 percent compared with the previous year.
Both leaders will also address the regional disputes over the Nagorno-Karabakh district in Azerbaijan. Disputes between Armenia and Azerbaijan over Nagorno-Karabakh turned violent during the early 1990s. Despite a cease-fire agreement reached in 1994, the situation remains tense.