BANGLADESH INSTITUTE OF INTERNATIONAL AND STRATEGIC STUDIES

THE EURASIAN ECONOMIC UNION (EAEU): HOW SECURITY THREATS WITHIN AND SURROUNDING REGIONS CAN IMPAIR THIS RUSSIAN-LED VENTURE

Author: Mahbubur Rashid Bhuiyan

DOI Link: https://www.doi.org/10.56888/BIISSj2021v42n2a3

ABSTRACT

Russia is trying to advance regional integration and economic growth through the Eurasian Economic Union (EAEU). Although, the group has five members but Russian predominance is evident here. It signed trade agreements and ventured into connectivity projects with different parties. There are questions on probable impacts of integration projects like the International North-South Transport Corridor (INSTC) or Belt and Road Initiative (BRI) on the EAEU as they have many parallels and perils involved. For the bloc to compete with the EU, inherent weaknesses, namely in politics, economy, security and foreign policy, etc, stand in the way. The EAEU remains rather vulnerable to multifarious threats from within, nearby regions and partners; for example, Russia’s tensions with neighbours and mutual distrust with the EU, the Eastern Partnership (EaP)’s proposal of greater interaction with (excepting Russia) and membership for EAEU and Caucasus states, Iran’s troubles with Arab countries, the US, and China’s disputes over maritime regions, trade practices, Taiwan, Hong Kong, the Syrian War and participation of Caucasus separatists there, etc., can have remarkable effects on the EAEU. Persistence of these threats may even challenge the bloc like those founded and led by Russia in the past.