Economic interdependence and security : the Russian - EU case

Abstract

In the aftermath of the Cold War, the European Community (EC)/ European Union (EU) and Russia went through significant processes of change internally and in their mutual relations. While redefining themselves, these two major actors of the continent also got an opportunity to change their heritage of mutual confrontation. To this end, they have chosen to intensify their economic relations through consultation, institutionalization, and an increase in economic activities such as trade and credits. The wide scope and political motivation behind this rapprochement encouraged this relationship to turn into economic interdependence. Economic interdependence in Russian-EU relations serves a political end. Parties, both devoid of adequate military capacities, try to change their historical perceptions about each other and realize their own economic and political goals through this relationship. The EU countries want to secure their involvements in Russian economy, mitigate the effects of eastwards enlargement on Russia, and incorporate Russia firmly in the European system so that it will not threaten Europe in the future. As EU countries become more involved in Russia’s development, they also become more vulnerable to shifts in Russian policies. As for Russia, it wants to be recognized as a Great Power, and to this end to achieve economic development, and to breach the encirclement it feels due to the dual expansions of the EU and NATO. This work aims to examine the nature of economic interdependence between Russia and the EU, and the latter’s role in easing the historically tense relations.