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$95 Billion in Mutual Trade and Settlements in National Currencies: Putin Sums Up Eurasian Union’s Work

Vladimir Putin. Photo: Kremlin press service

ASTANA (Realist English). A meeting of the Supreme Eurasian Economic Council (SEEC) was held in the Kazakh capital under the chairmanship of President Kassym-Jomart Tokayev, timed to coincide with the 12th anniversary of the signing of the treaty establishing the Eurasian Economic Union (EAEU). 

The meeting took place on the 12th anniversary of the treaty – May 29, 2014 – and consisted of two formats: a restricted-attendance session and an expanded session.

Participants

The restricted-attendance session was attended by the presidents of the “Big Five” countries: Kazakhstan’s Kassym-Jomart Tokayev (the chair), Russia’s Vladimir Putin, Belarus’s Alexander Lukashenko, Kyrgyzstan’s Sadyr Japarov, as well as Armenia’s Deputy Prime Minister Mher Grigoryan, who replaced Prime Minister Nikol Pashinyan.

They were joined in the expanded session by leaders of observer states and partners: President of Uzbekistan Shavkat Mirziyoyev, Vice President of Cuba Salvador Valdés Mesa, Minister of Industry, Mines and Trade of Iran Mohammad Atabak, and CIS Secretary General Sergei Lebedev.

Vladimir Putin’s Address: Achievements and Priorities

In his speech, the Russian president presented a detailed picture of the EAEU’s successes and outlined strategic guidelines for deepening integration.

Results of the Summit: Documents and Initiatives

The summit was marked by the signing of a number of important documents that set the Union’s development direction for years to come.

The Armenian Question: A Signal to Yerevan

One of the central items on the agenda was the discussion of Armenia’s further participation in the EAEU in light of its course towards rapprochement with the European Union and the constant boycott of Union events by Prime Minister Nikol Pashinyan.

During the summit, the leaders of the EAEU countries adopted a separate statement on Armenia. Although the details of the document were not disclosed, the very fact of its adoption testifies to the serious concern of the partners and their readiness to formulate a joint position.

Earlier, Russian presidential aide Yuri Ushakov noted that the Union’s countries would have to work out a “course of action in the event of Armenia’s withdrawal from the EAEU and to protect their markets.”

This context largely explains Putin’s broader rhetoric. His remarks on the benefits of close integration and the successes of the EAEU, as well as his call for “independent provision” of food security, were addressed not only to current members but also to those considering alternative paths of development.

The Russian leader stressed that the Union’s agreements protect its members from “external influence and negative global market trends,” drawing a clear distinction between the stability of the Eurasian model and the turbulence associated with Western integration projects.

Strengthening Cooperation

The EAEU summit in Astana confirmed the Union’s transition from the stage of forming a common economic space to actively developing high‑tech and innovative cooperation in the context of global geopolitical turbulence.

Despite certain disagreements, primarily related to the “Armenian question,” the member countries managed to demonstrate unity of strategic approaches by signing a substantial package of documents aimed at deepening integration and diversifying external ties.

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