Eurasian Economic Union

Turkey and Kazakhstan will be two central countries in Eurasia in the fields of energy, trade and transportation, Turkish Prime Minister Ahmet Davuto?lu said Feb. 6.

Davuto?lu met Kazakh President Nursultan Nazarbayev during a two-day official visit to Kazakhstan to further develop relations in the fields of transportation, energy and trade.      

Russian President Vladimir Putin signed a document Nov. 28 that introduces sharp economic sanctions on Turkey, which include banning Turkish employment in the country, according to a statement by the Kremlin press service.

Kyrgyzstan became Aug. 6 the fifth member of a Moscow-backed economic bloc of former Soviet countries, a move firmly linking the Central Asian state to Russia at the risk of disrupting trade with China.

Russia hosted two important gatherings, the Shanghai Cooperation Organization (SCO) and BRICS (the five emerging economies of Brazil, Russia, India, China and South Africa) summits on July 8-10, 2015, in the Russian city of Ufa, as the simultaneous holder of the rotating chairmanships of both institutions.

BELGRADE - Fiat cars from the Kragujevac factory could start being exported to Russia duty-free as early as the first half of this year, Trade Representative at the Embassy of the Russian Federation to Serbia Andrey Khripunov told Tanjug Thursday.

Kazakhstan on Thursday temporarily banned imports of cheap Russian diesel fuel and petrol to avert surplus and keep its own oil refineries running.

According to Deputy Minister for Energy Magzum Mirzagaliyev, the ban will be in force for the next 45 days.

Turkey has yet to make an official application for membership of the Eurasian Economic Union (EEU), but it would be welcome to join, Kazakhstan?s ambassador to Turkey has said.

EU's High Representative for Foreign Affairs and Security Policy Federica Mogherini has suggested renewal in relations with Russia in the spheres of global diplomacy, trade and other issues on Wednesday.

Russia's ambassador to the EU has called on the bloc to launch talks with the newly formed Eurasian Economic Union despite the Western economic sanctions against Moscow imposed over the Ukraine crisis.

The Eurasian Economic Union (EEU) officially starts functioning on January 1.

The EEU unites Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan.

The new economic union envisages free flow of capital, goods services, and workforce on a common market including over 170 million people, according to reports of the Bulgarian National Radio.