2 June 2014

Putin’s Answer to the EU

The presidents of Russia, Belarus, and Kazakhstan signed a formal agreement for the establishment of the Eurasian Economic Union (EaEU) in Astana, Kazakhstan (29 May 2014). Armenia and Kyrgyzstan are preparing to join the new trading bloc before the end of the year. Putin promises true “national sovereignty” to all member states. Putin’s EaEU will have 178 million people compared to the 503 million people of the EU; its combined $2.6 trillion GDP is about a sixth of that of the US ($15.7 trillion) or the EU ($16.6 trillion).

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