Yes, dual citizenship is allowed in Republic of Armenia

Armenian dual citizenship was authorized after constitutional amendments to the Citizenship Law of Armenia, which came into force on 26 February 2007. However, a citizen that has acquired Armenian and other citizenship is nevertheless considered to be solely an Armenian Citizen. The dual national of Armenia has the same rights as other citizens have all the rights as the other citizens living in the country; they have responsibilities to the government and outside entities like everyone else living in Armenia. The Republic of Armenia has treaties with several countries which permit dual citizenship status while not requiring one to renounce their Armenian passport or remove themselves from any obligations

Armenian citizenship is awarded by a decree of the president.

Any adult who has lived in Armenia for at least three years and has good knowledge of Armenian language, the country’s laws and constitution can apply for citizenship. Citizenship can also be given to anyone with an ethnic Armenian background or whose parents were both born in Armenia, or who was formerly a citizen after 1995.