Benefits and costs of Eurasian integration and reintegration for Russia

Abstract

In view of the tense geopolitical situation in the world community, the distancing and sanctioning of the «Collective West», the active regionalization of countries in maintaining and developing socio-economic ties, the article attempts to determine the role of the EAEU in the development of Russia within the framework of Eurasian integration and reintegration. Thus, the costs of Russia's participation in these processes, the benefits derived from socio-economic interaction with the participating countries were identified, and possible directions for Russia's development within the framework of Eurasian cooperation were identified. As costs (criticism) of the Eurasian integration and reintegration stand out: cooperation with countries whose total territory is five times smaller than the territory of Russia; whose population is three times smaller than the population of Russia; cooperation with countries with a lower standard of living and no borders with Russia; the presence of a lower GDP growth in Russia in comparison with other EAEU member countries. Along with the costs, a number of benefits are also highlighted, in particular, the possibility of expanding the sales market, increasing the resource base, increasing cooperation and competition between business units between the EAEU member countries, laying new international routes and expanding transport routes, the possibility of forming a common financial market, creating a common payment infrastructure based on digital technologies, which reduces the time and cost of transactions, the formation of new sustainable mutually beneficial cooperation and logistics chains, the implementation of international transactions in national currencies, and subsequently the possibility of promoting the digital ruble as a single currency used within the Union. As a result of the study, it is concluded that the EAEU member countries open the way for Russia to effective and mutually beneficial cooperation, assigning a significant role to the country as a carrier of a model of honest and fair exchange, which takes into account the national interests of each participant, considered as a sovereign state, excluding the colonial and neo-colonial paths.