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News

The Eurasian Economic Union and the European Union

September 21, 2016

Despite the observation that the creation of the Eurasian Economic Union (EEU) appears to have been primarily motivated by a Russian desire to reassert dominance over the region, the question of whether genuine cooperation can take place between the European Union (EU) and the EEU is a relevant one. Russia’s economic downturn and the wider regional fallout have significantly eroded the EEU’s attractiveness as a motor for economic integration. Moreover, Moscow’s tendency to let geopolitics and foreign policy considerations trump economic cooperation causes friction among EEU members.

The growing signs that individual EEU states are disillusioned with how membership in the Union has turned out should mean that there will be more willingness on their part to pursue a distinctly multi-vector foreign policy that seeks greater cooperation with both the EU, as well as China. Doing so would also strengthen the EEU member states’ ability to form a counterweight to Moscow’s dominance of the Eurasian Union, as well as in other areas. Lastly, the lack of funds available from Moscow to drive economic integration also means that domestic reforms in EEU member countries will grow in importance as a motor for positive economic change. Europe and Sweden should consistently seek to emphasise this as part of the Eastern Partnership policy, as well as in their bilateral relations with EEU member states writes Sijbren de Jong in a Policy Brief for the Swedish Institute for European Policy Studies.

The article can be downloaded here.

The article was also highlighted in ‘The Morning Vertical’; Radio Free Europe’s daily Russia brief.

Photo credit: Kremlin.ru

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