The prospects for creation of Euroasian Joint Economic Space under the complicated EU-Russia relationship

Abstract

The article analyzes the changes in the character of the dialogue between Russia and the European Union in respect of economic cooperation for the past ten years. The differences in the parties’ evaluation of the causes of the political crisis in Ukraine and the ways to overcome it have seriously complicated the EU-Russia relations. It is stressed that deterioration in cooperation began long before the events in Ukraine: the gap between political declarations and real results of the cooperation became evident; there is no progress in the talks on the new basic agreement; the realization of the integration initiatives agreed upon has been practically halted; the blatant dictatorship on the EU replaced equal talks in the sphere of energy. Given all these factors, the prospects for creation of a joint economic space from the Atlantic to the Pacific, which the Russian leaders put forward, look uncertain. Successful common efforts of the united Europe and Russia in overcoming the crisis in Ukraine could help remove this uncertainty.