How did Armenian merchants contribute to Safavid commerce?

To stimulate trade within his dominions, Shah ‘Abbās I forcibly relocated thousands of Armenians from Julfa to a new settlement, New Julfa, near his capital of Isfahan in 1604–1605.12

These Armenian merchants became vital to the economic prosperity of the Safavid state by serving as essential commercial intermediaries between the East and Europe, including countries such as England, Spain, and Russia. Their contributions included:1

• Exporting: They managed the export of Persian silk, which was a primary source of government revenue.12
• Importing: They facilitated the import of European goods, such as clocks, glass, paintings, and spectacles.1

Through these activities, the merchants amassed significant wealth during the 17th century, which they invested in the construction of mansions and churches in New Julfa. However, their economic influence eventually declined in the 18th century following excessive taxation imposed by Nādir Shah.1