*To read Part One, please click here.
Its membership in the Russia-led Eurasian Economic Union (EEU) serves Belarus, to some extent, as a form of political insurance vis-à-vis Russia. This involves stable supplies of Russian oil and natural gas at discounted prices, anti-crisis and currency stabilization loans, theoretically free access of Belarusian products to quality-compatible Russian markets, and opportunities for Belarus to maintain direct economic ties with Russia’s regions.
This special economic relationship is a bilateral one, long pre-dating the launch of EEU, and continuing basically outside the Union’s multilateral framework. Yet the multilateral trade agreements, signed within this EEU, make …read more
Source: The Jamestown Foundation