Russia, World Trade Organization and the Eurasian Economic Union: a retrospective analysis of legislative and foreign trade aspects
Importance The article overviews and analyzes international treaties on Russia’s accession to the World Trade Organization and establishment of the Customs Union, considering sanctions some States imposed against Russia. Objectives The research analyzes positive and negative aspects of key regulations on Russia’s accession to the WTO and EEU. It also assesses Russia’s performance in those integration alliances. Methods The research employs methods of critical overview, logic analysis, comparison and matching. Results Having analyzed documents on Russia’s accession to the WTO, I note that any preferences imply some liabilities or restrictions that may undermine potential opportunities of the agent. Reviewing foreign trade relationships within the EEU, I found high opportunities of the organization for mitigating possible economic damage to the economic situation. Conclusions and Relevance Considering the current economic instability, further development of international cooperation will solidify the economic security and interests of the Russian Federation and their protection. The EEU countries should intensify their efforts in elaborating the single foreign trade policy in terms of avoiding transit of banned goods to the Russian Federation through the EEU.