DOI: http://doi.org/10.15350/24097616.2019.4.32

Elena F. Linkevich – Doctor of Economic Sciences, Professor of the Chair of World Economy and Management, Kuban State University, Krasnodar, Russian Federation, SPIN-code: 7961-4549, E-mail: alins@list.ru

Ekaterina Yu. Makarova – Student of the Chair of  World Economy and Management, Kuban State University, Krasnodar, Russian Federation, SPIN-code: 8440-6859

Abstract. The European Union is the largest partner of Russian Federation. Trade cooperation between them is the crucial point for the successful interaction of the two sides. For a long time, partners in the field of trade, research, internal and external security, as well as the investment area have been closely cooperating. The foreign trade of Russia mostly falls on the EU. In turn, the EU countries are actively investing in the Russian Federation, being the largest direct investors for the Russian national economy. The purpose of this work is to conduct a study demonstrating the development of economic relations between Russia and the EU. To solve the tasks in the article, a set of mutually complementary research methods was used: economic and statistical research method, as well as a method of system analysis and forecasting. The article gives the history of the development of trade and economic relations between Russia and the European Union. The article also reveals the problems hindering the development of successful bilateral cooperation between Russia and the EU, as well as possible solutions to the problems posed. As a result of the study, the article concludes that the external challenges that impede the successful dialogue between Russia and the EU are political rather than economical. The authors conclude that geopolitical instability impedes the prosperity of trade and economic relations between partners. For this reason, there is a decrease in investment activity of the two parties, which leads to multimillion-dollar losses. The findings of the study can be used to develop new trading strategies for the EU.

Keywords: European Union, trade relations, foreign trade, sanctions, trade export / import, financial crisis, national economy, energy dialogue.

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For citation:

Linkevich E.F., Makarova E. Yu. Problems and prospects for the development of trade relations of Russia with the countries of the European Union. CITISE, 2019, no. 4, pp. 327-341. DOI: http://doi.org/10.15350/24097616.2019.4.32