Economic Relations between the European Union and Russia: Before and after the Crisis

Abstract

Although the economic and financial crisis has profoundly affected every European country, national responses to the new challenge of establishing a more effective regulatory regime and resuming economic growth highlighted a sharp divide in economic approaches between two major players on the European continent — the European Union (EU) and the Russian Federation. These differences could not help, but influence bilateral economic relations. Which direction is economic cooperation between the two partners drifting after the crisis? This chapter examines how efforts to adjust economic structures in both Europe and Russia are likely to influence trade, investment and financial services, and perspectives for the EU-Russian strategic partnership.