Armenian President Armen Sarkissian submitted resignation on Sunday, according to a statement on his official website.

Sarkissian said the president currently has no power and tools to influence important issues cornering the domestic and foreign policy. 

He pointed out that a paradoxical situation has been created in Armenia, where the president has to be the guarantor of statehood without actually having any real instruments. According to him, Armenia is a parliamentary republic in form, but not in essence.

“At this difficult time for our state, when national unity is required, the presidential institution should not become the target of gossip and conspiracy theories, thus distracting public attention from the most important issues," he stressed.

In Sarkissian’s words, today more than ever, the country needs substantial, well-thought-out and sensible actions, adding, otherwise, Armenians risk being lost in history.

"We have no right to make mistakes anymore," he noted.

He expressed special gratitude to Armenian citizens and the Diaspora Armenians for their perseverance, patience and courage during these difficult times for the country.

Sarkissian thanked the Armenian army, paying special homage to the families of fallen soldiers. He also expressed gratitude to his staff and government agencies for effective work.