Eurasian Economic Union agreement signed

The presidents of the Russian Federation, Belarus and Kazakhstan met in Astana on May 29 to sign the agreement creating the Eurasian Economic Union, which is set to launch on Jan. 1, 2015. The agreement consists of two parts, the UNIAN news agency reported. The institutional portion explains the strategic goals and tasks of Eurasian integration, which are based on cooperation on a mutually beneficial basis for economic integration and development. It also establishes institutions such as the Higher Eurasian Economic Commission (consisting of heads of state), Eurasian Intergovernment Council (consisting of heads of government), Eurasian Economic Commission and the Union’s Court.

The functional part regulates the mechanisms for economic cooperation and requirements for integration of various spheres. It establishes a single policy for tariff and non-tariff regulations, transport and industry and coordinating agricultural policy. It sets the conditions for gradual integration of energy markets and coordinating activity in the spheres of electrical energy, natural gas, oil and oil-based products.

Zenon Zawada; Kazakh President Nursultan Nazarbayev remarked at the ceremony that the union is strictly economic and won’t affect political sovereignty. However, that claim is rejected beyond the borders of Eurasia. Putinist foreign policy is largely defined by using economic levers to influence politics in other countries. So Ukraineihas much to gain from avoiding this structure.