EEU will be a formal rather than a real trading bloc, Sergey Minasyan
16.09.2014,
15:38
The Eurasian Economic Union (EEU) will be a formal rather than a real economic bloc, Sergey Minasyan, a senior political analyst of the Caucasus Institute said today.
YEREVAN, September 16. / ARKA /. The Eurasian Economic Union (EEU) will be a formal rather than a real economic bloc, Sergey Minasyan, a senior political analyst of the Caucasus Institute said today.
According to earlier reports, Armenia’s formal membership in the union of Russian, Kazakhstan and Belarus is to be sealed on October 10 when the leaders of these three countries will meet for another summit.
"Contradictions between Russia, Kazakhstan and Belarus, complicated by the geopolitical context, triggered largely by the Ukrainian crisis, amid mounting Western sanctions against Russia are reducing the latter’s economic power and having a negative impact on the formation of the trade bloc,” said Minasyan.
According to him, in view of the overall situation and the emerging additional financial and economic burden on Russia which is supporting pro-Russian Luhansk and Donetsk regions of Ukraine, chances of effective functioning of the Eurasian Economic Union are not high.
"Formally, the union will be created and the likelihood of its operation is high but the question is how realistic it all is going to be,” he said.
On the possibility of setting up checkpoints on the border between Armenia and Nagorno-Karabakh demanded by Kazakhstan, he said this will not affect the status of Karabakh.
"Karabakh has been and remains in the same military, political, economic and customs space with Armenia. There is no other option, as its only road to the outside world passes through Armenia", said Minasyan. . -0—
