The big powers in the region are Russia, Turkey and Iran. If you must argue that Armenia should pick a big power to cosy up to, those are the options. Turkey is likely committed to Azerbaijan, but Iran and Russia are willing to play both sides.
Pursuing closer links with Europe and the EU is a fourth option. As the article points out, Armenia has historic links to Europe (although in the same paragraph it concedes that the strongest of those are to Russia, not the Western countries...) and this would be more attractive to Armenians. Unfortunately, it doesn't have much to offer the EU. It's poor and geographically isolated and the EU, which doesn't have unified armed forces, isn't interested in projecting military power overseas.
Gurgen Margaryan was killed by an Azeri in Hungary. Once he was extradited to Azerbaijan he was released, promoted and got a big pay. Now he's a hero there.
So Armenia would risk provoking it’s neighbors, with no way of defending it self.
So, yeah, the EU would need to grow a massive set of balls and build an army large enough to keep Russia away, and station troops in all EU friendly states bordering Russia. I’d call that a 2050 plan at best.
It's not for the EU to be scared. They just need to setup camp in Armenia, then others will not dare attack.
The problem is to indeed grow a pair and show some backbone instead of always being scared and weak. Again, the EU is (or can be) a massive power that others, including Russia, will not cross.
That should be the case but is not: https://en.wikipedia.org/wiki/Srebrenica_massacre
Specifically, show me one country in the EU whose internal politics could sustain losing significant numbers of personnel in a proxy war with the second largest military in NATO.
As a friend of mine suggested, one of the better routes the EU could take is to look to Switzerland and estabilish a confederation, with a single military, forereign policy and currency, but leave everything to the member states.