Yesterday the Armenian President Serzh Sargsyan made a speech about the foreign policy of Armenia over the meeting with Armenian ambassadors and permanent representatives of the republic to international organizations. In a wide-ranging foreign policy speech made public late Wednesday, he also indicated that Armenia will continue to seek simultaneously good relations with Russia, the West and other major regional players after the devastating war in neighboring Georgia. When speaking of the situation formed in the region and the deeds to be initiated afterward Sargsyan said, “There is no need to mention once again that the Georgian-Ossetian conflict has first of all hit the Armenian economy. We have numerously mentioned that a peaceful region is needed for the development of Armenia’s economy. There was bloodshed in our region again and innocent people died.” According to Sargsyan the current situation contains at least three key issues for Armenia – regulation of frozen conflicts, transit roads and increase of tension in international relations.