(MENAFN) Russian Deputy Foreign Minister Aleksandr Pankin has emphasized that the Eurasian Economic Union (EAEU) is founded on fair and equal treatment of all its members, dismissing any notion of coercion within the bloc. The EAEU includes Russia, Belarus, Armenia, Kazakhstan, and Kyrgyzstan, and was established in 2014.

Speaking on the Eurasian Dialogue podcast, Pankin highlighted that the union’s main goals are to improve living standards and strengthen business cooperation among member states. He explained that conflicts are settled through equal dialogue and consensus, ensuring that compromises serve the interests of all participants without anyone gaining at the expense of others.

Pankin stressed that no country is forced to remain in the EAEU, and smaller economies receive considerable attention and support within the group. He clarified that the EAEU is not a restrictive or burdensome union—members remain free to trade globally and are not limited to internal trade or investments. Unlike the Soviet-era planned economy, the bloc functions as a competitive common market.

The Russian Foreign Ministry noted that the combined GDP of EAEU members has grown to $2.6 trillion over the last decade. The union currently holds trade agreements with Serbia, Vietnam, and Iran, while negotiations with Mongolia and the UAE are underway.

Russian Deputy Prime Minister Aleksey Overchuk remarked in a recent interview that more countries might view the EAEU as a “safe haven” amid global trade conflicts and increasing international tensions.

MENAFN03062025000045015687ID1109629816