DOI: http://doi.org/10.15350/2409-7616.2020.2.31

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

Pavel P. Portoyan – Student of the Department of World Economy and Management, Kuban State University, Krasnodar, Russian Federation, E-mail: pasha.portoyan@mail.ru

Anastasia A. Zaboryanskaya – Student of the Department of World Economy and Management, Kuban State University, Krasnodar, Russian Federation, E-mail: Miss.Zabo@yandex.ru

Abstract.  The European Union has been one of the key strategic trading partners of the Russian Federation for decades. The basis of trade and economic relations between Russia and the European Union is the signed “Partnership and Cooperation Agreement”. However, after the events in Ukraine in 2014 and the application of mutual economic sanctions, this agreement ceased to be fully operational. In the foreign trade of Russia, the share of EU countries remains significant even in conditions of the mutual application of sanctions. Foreign trade is still one of the key incentives for increasing production efficiency and developing economic relations between Russia and the EU. One of the most promising areas in trade and economic relations between Russia and the European Union is the energy sector. The relevance of the research topic is explained by the fact that under the conditions of geopolitical instability, the trade and economic relations between Russia and the EU are not fully understood. The purpose of this article is to conduct a study to assess the prospects for the further development of trade relations between Russia and the EU. The article discusses the historical background of the development of trade between Russia and the EU countries, analyzes the current problems of trade and economic cooperation, assesses the impact on the dynamics of trade, the mutual application of sanctions, and considers a number of issues related to cooperation between Russia and the European Union in the energy sector. The authors conclude that at the present time, establishing a dialogue with the goal of resolving the protracted conflict, which negatively affects the development of trade and economic relations between Russia and the countries of the European Union, is of particular importance.

Keywords: trade relations between Russia and the EU, foreign trade, trade export / import, sanctions, embargo.

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For citation:

Linkevich E.F., Portoyan P.P., Zaboryanskaya A.A. Prospects for trade cooperation between Russia and the EU in the context of mutual sanctions. CITISE, 2020, no. 2, pp. 336-347. DOI: http://doi.org/10.15350/2409-7616.2020.2.31