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Eurasian Economic Union

Russian PM Medvedev says Eurasian Economic Union eased impact of crisis on mutual trade

"If the EEU did not exist most probably the decrease of trade volumes amid current extremely unfavorable conditions for our country [...] would have been much deeper," Medvedev said

Russia's prime minister Dmitry Medvedev Dmitry Astakhov/Russian government's press service/TASS

Russia's prime minister Dmitry Medvedev

© Dmitry Astakhov/Russian government's press service/TASS

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MOSCOW, June 10. /TASS/. Russia’s Prime Minister Dmitry Medvedev thinks without the Eurasian Economic Union (EAEU) the impact of the crisis on mutual trade would have been much stronger, he said at a meeting with Chairman of the Eurasian Economic Commission (EEC) Collegium Viktor Khristenko.

"If the Eurasian Economic Union did not exist most probably the decrease of trade volumes amid current extremely unfavorable conditions for our country, which also affect the economies of our allied countries, would have been much deeper," Medvedev said.

In his turn, Viktor Khristenko said the situation with trade is not very favorable and has been demonstrating negative dynamics, which however has its positive aspects. If you take the total drop of mutual trade between member-states of the Union 85% accounts for oil and change of price for oil supplies between Russia and Kazakhstan, while the remaining 15% are price parameters, he said, adding that "on physical parameters the mutual trade did not undergo serious changes.".

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