Prospects for the development of the EAEU amid a confrontation between Russia and the West

Abstract

The article examines the consequences of the Western states’ sanctions pressure on Russia for the EAEU. Special attention is paid to the position of the EAEU members amid two crucial events in the Ukrainian crisis: the reunification of Crimea with Russia (2014) and the beginning of a special military operation (SMO) in Ukraine (2022). Measures aimed at minimizing the damage from anti-Russian sanctions on the economies of the EAEU countries are considered, such as: customs, customs tariff and non-tariff regulation, protective measures; internal market and cooperation; financial and currency markets; international economic cooperation with third countries and integration associations. The priorities of Russia’s chairmanship in the EAEU in 2023 are analyzed. The prerequisites for the further development of the EAEU as a self-sufficient integration center in Eurasia and the prospects of the EAEU amid a confrontation between Russia and the West are examined. Among the negative factors slowing down the development of the EAEU the following stand out: the orientation of some members to the third countries’ markets, the modest pace of modernization and increasing the competitiveness of the economies of the EAEU countries, the insufficient level of development of transport infrastructure and logistics, the concerns of the EAEU members (Armenia, Kazakhstan, Kyrgyzstan) of «secondary» sanctions, the absence of a consolidated position within the union regarding Western sanctions, the violation of transactional payments as an outcome of Russia’s disconnection from international payment systems.

Keywords

• eurasian economic union
• sanctions
• integration
• trade and economic relations
• prospects