ABSTRACT
Both Russia and the EU are adjusting their policies to the rising role of Asia (in particular the Indo-Pacific region) in the global economy and security architecture. This shift is directly affecting relations between Russia and the EU. Asia emerges as an alternative to the European market for Russian energy and commodities, capable of overtaking the EU in the long run in both trade and investments. That in turn would cause a decline in interdependence between Russia and Europe, possibly leading to a gradual decoupling. Russia is developing a more diversified network of trade agreements with the Asian countries, which has resulted in the Greater Eurasia initiative. China has emerged as the closest Russian partner in defence and as the main global competitor of the United States, which also influences the Russian–European security relationship. Although both Russia and the EU are concerned about some Chinese trade practices, they target different sectors of the Asian markets. Russian and EU interests and policies in Asia diverge on a number of regional issues. The opportunities for EU–Russian cooperation in Asia exist but cannot be effectively seized because of the ongoing mutual sanctions.
