1. Introduction
The Eurasian Economic Union (EAEU) was established in January 2015. At the time, its creation was proclaimed historic by Vladimir Putin, a key promoter of the project.1 Underpinning this claim was the development of a functional, rules-based framework to promote deeper economic ties between EAEU members, and thereby integrate states into a new cohesive economic entity – the first such body in the post-Soviet region.
The EAEU received a mixed reaction on its launch. While some dismiss it as merely a fiction serving Russia’s geopolitical ends, others, more pragmatically, view EU–EAEU cooperation as a means of diffusing tensions in Russia–EU relations. Neither stance appears to be based on analytical scrutiny of the new organization in terms of its overt aims, let alone how it really functions.
Russia’s primary interest in Eurasian integration is to strengthen its own global influence. Other member states have diverse reasons to engage in Eurasian integration but they are not interested in pursuing deep economic integration in a regional context. As such, the competing objectives of member states are actually hindering the project from becoming a genuine economic union. The lack of commitment among member states is reflected in the significant institutional deficiencies within the EAEU. Already the union has seen the reversal of some early successes in integration. The lack of commitment in conjunction with weak institutions is likely to render the organization ineffective in the medium to long term. But even though the union will continue to fall short of its objectives, the EAEU cannot be easily written off. Notwithstanding its shortcomings, Russia retains a strong interest in the EAEU’s continued existence. So it is likely to endure, barring any unforeseen events of a cataclysmic nature within Russia itself. This paper aims to explain the political origins of the EAEU, its architecture and its progress to date.
1 RIA Novosti (2014), ‘Putin: Peredacha polnomochii v EAES ne oznachaet utratu suvereniteta’ [Putin: the transfer of powers in the EAEU does not mean loss of sovereignty], 29 May 2014, http://ria.ru/economy/20140529/1009842639.html (accessed 8 Oct. 2016).