The Eurasian Economic Union (EAEU) and Its Relations with Serbia

Jović-Lazić, Ana and Lađevac, Ivona (2022) The Eurasian Economic Union (EAEU) and Its Relations with Serbia. In: International Organizations: Serbia and Contemporary World. Institute of International Politics and Economics; Faculty of Philosophy of the University of St. Cyril and Methodius, Belgrade; Skopje, pp. 38-55. ISBN 978-86-7067-306-9

Text iipe_ioscw-2022-2-ch2.pdf - Published Version Available under License Creative Commons Attribution Non-commercial No Derivatives. Download (267kB)

Abstract

The article looks at how the Eurasian Economic Union (EAEU) came to be, its fundamental ideas, and how its institutions operate. Even though the EAEU has made some progress compared to previous post-Soviet integration efforts, questions remain aboutwhether itwill achieve its objectives, andwhat its prospects are. By examining the main political, legal, and economic characteristics of the EAEU, the EAEU’s inherent flaws and how they limit its outcomes are made clear. Despite its proclaimed goal of being primarily an economic integration project, the EAEU has failed to deliver on its promises because itis founded more on geopolitical rather than economic commitments. Internal weaknesses, such as Russian interests in the region, economic challenges within member states, economic and political strength disparities, and general mutual distrust exacerbated by the war inUkraine, further hinder the EAEU’s potential. External challenges, such as the European Union’s and China’s role inRussia’s “near abroad” and extendedWestern sanctions, impede the EAEU’s integration progress. The article also examines certain benefits and the constraints of Serbia’s cooperation with the Eurasian Economic Union. By doing this, Serbia’s policy to keep moving toward European integration while keeping strong economic and political ties with Russia, an essential member of the Eurasian Economic Union, is considered.

Actions (login required)

View Item