The Role of the Eurasian Economic Union in Trade and Industrial Policy of Russia

Abstract

The Eurasian Economic Union (EAEU) was established in 2015 and so far consists of five nations (Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan). One cannot deny that the EAEU has several defects such as too much dominance of Russia among the member states, an imbalanced network of intra-EAEU trade, relatively low importance of intra-EAEU trade for the member states, tendency to postpone market integration of crucial sectors like oil & gas and differences of import tariffs as a result of Kazakhstan’s accession to the WTO.