Whether the Armenian diamond-cutting industry is hurt or helped by the likely sanctions will depend on the EU's ability to trace the gems' origin to Russia.
Azerbaijan is angry about France's sale of hardware and weapons to its rival Armenia. It's been quiet so far on Georgia's role in facilitating the transaction.
As Baku rejects French involvement in peace talks, the leaders of Georgia and Azerbaijan seem to agree that the countries of the South Caucasus should "address regional issues themselves."
Expansion of the Southern Gas Corridor pipelines carrying Azerbaijani gas to Europe is on hold pending confirmation that Europe will buy the gas. Baku's offensive to retake Nagorno-Karabakh could further complicate things.
The figurehead president warned that denying EU membership candidate status would embolden Russia and empower the already-ascendant forces of illiberalism in Georgia.
Yerevan and Baku have fundamental disagreements about how the rights and security of Karabakh’s Armenian population should be guaranteed. Observers are pessimistic that they can be bridged.