Armenia–Russia Reset: Prime Minister Nikol Pashinyan said Armenia has grounds to stop treating Russia as a strategic partner, pointing to Moscow and the CSTO’s failure to meet security obligations during the September 2022 escalation with Azerbaijan; the 2026–2031 government program drops the “strategic partnership” label while promising dialogue on “mutually beneficial cooperation” under new regional peace conditions. EU Pivot in Focus: Armenia’s parliament approved the 2026–2031 government program, with EU membership and deeper ties with the US, EU, Iran and Georgia named priorities, while Russia and the EAEU remain a live political pressure point. Energy Connectivity Talks: Armenia is exploring electricity imports, including from Azerbaijan, and discussed cross-border power cooperation with Azerbaijan in Lachin; Pashinyan also floated options with Georgia, Türkiye and Iran. Corruption Case Escalates: Prosecutors launched criminal proceedings against former President Robert Kocharyan and others, with Kocharyan and his son detained amid allegations of abuse of power, bribery and money laundering. Regional Security Ripples: A second tanker was reportedly struck in the Strait of Hormuz as the US prepares to deploy a carrier group, underscoring rising risks on key energy routes. Armenia–India Defense Boost: India’s Defence Secretary visited Yerevan, signaling expanding military cooperation and a shift toward closer staff-level engagement. Capital Markets: ML Fashion LLC bonds worth 500 million drams were listed on the Armenia Securities Exchange.