The article puts into comparative perspective the EU-Armenia Comprehensive and Enhanced Partnership Agreement and the Treaty on Accession of the Republic of Armenia to the Eurasian Economic Union. It specifically underlines the interplay between the CEPA values and norms discourse and Armenia's membership in Eurasian integration project. It further assesses the effect of the "Velvet Revolution" of 2018 on the country's external policy, stating that it has little chance to cause deviation from the currently dominating multi-vector external course. The article concludes that the Armenian case challenges the EU linear approach to developing relationship with neighbouring countries, being an example of reconciliation of the EU-EAEU political and modernisation agendas. This brings into question the need for a clear vision of the future for both integration projects.