Speaking exclusively to Premier's News Hour Bishop Vahan Hovhanessian said the West was only interested in saving oil.
"Whenever the terrorists get closer to an oil field this bombing takes place and it's restricted," he said, "meanwhile months before hundreds of thousands of Christians were forced from their homes but no air strikes."
He was speaking after meeting with the Prince of Wales. Charles was visiting St Yeghiche's Armenian Church in London.
Islamic State has been advancing over large parts of Iraq and Syria taking over many areas.
The terrorist organisation is attempting to set up a Caliphate ruled by strict Islamic law.
In some parts of the area Christians were given an ultimatum to pay a tax or they would be killed.
Bishop Vahan added: "I think the airstrikes are effective but they should be planned to rescue the people and the Christians that are targeted and not just protect the oil fields and cities of importance for the local government.
"The way I'm seeing it [air strikes] are to protect certain interests of the world wide economy or the stability of the region meanwhile hundreds of thousands of Christians get killed for two or three weeks before that and there is no reaction.
"The minute they get closer to an oil field we see a reaction of air forces."
Listen to Antony Bushfield's interview with Bishop Vahan Hovhanessian: