What is the Eurasian Economic Union and what are its objectives?
Is an organization formed by countries in Central Asia, Russia and Belarus. The union was founded in 2014 and the idea is to create a kind of “economic team” so that they can work together and strengthen their economies. The most important purpose of the Single Economic Space is to promote market integration, facilitating the realization of the “four freedoms”, which would be: the free movement of goods, money, services and people within this market.
What are the challenges that are eroding the EEU?
The main challenge facing the Economic Union is Russia’s strong economic dominance over other countries. This imbalance means that integration into the Economic Union is primarily guided by Russia’s interests. This often causes disputes between other member countries over economic issues because they may not agree with decisions that favor Moscow.
How can China and India help weaken the EEU?
China and India have strong trade relations with countries that are part of the EEU, such as Kazakhstan and Armenia. By strengthening bilateral commercial ties with these countries, they can reduce their dependence on the Russian alliance.
What are the future prospects of the EEU amid the war in Ukraine?
The future prospects of the UEE are uncertain in the face of the war in Ukraine, even if the union continues to exist, its ability to achieve its integration and cooperation objectives are strongly shaken by geopolitical instability and distrust among members regarding the real intentions of the Russian President Putin.