Since 1997, the EU`s political and economic relations with Russia have been based on a bilateral Partnership and Cooperation Agreement (APC). The trade components of the agreement aim to promote trade and investment and to establish mutually beneficial economic relations between the EU and Russia. Since 2014, the illegal annexation of Crimea and the conflict in eastern Ukraine have seriously undermined bilateral political dialogue. As a result, some of the political dialogues and cooperation mechanisms, including in the trade field, have been suspended. An interactive list of bilateral and multilateral free trade instruments can be find on the TREND Analytics website.  A third factor influencing trade relations with Russia is the adoption of policy measures to restrict trade, namely sanctions. In July 2014, in response to Russia`s responsibility for the events in Ukraine, the EU adopted economic sanctions against Russia, which target four sectors: access to finance, weapons, dual-use goods and specific oil extraction and exploration technologies. For more information on these measures, click here. Turkey has bilateral and multilateral agreements with the list of agreements being negotiated. Agreements that have so far been discussed only in the absence of formal action by the parties concerned are not mentioned.
Full multilateral agreements (not listed below) see: List of multilateral free trade agreements. The Eurasian Economic Union, composed of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, has concluded free trade agreements, see below. List of agreements between two states, two blocs or one bloc and one state. The People`s Republic of China has bilateral trade agreements with the blocs, countries and their two specific administrative regions: Note: Any customs union, common market, economic union, customs and monetary union, economic and monetary union is also a free trade area. A second factor is the import substitution policy, which Russia has been implementing gradually since 2012 and which largely coincides with Russia`s accession to the WTO. WTO membership had raised hopes that trade with Russia would benefit from sustainable liberalization. Instead, Russia has gradually taken many steps to promote domestic products and services over foreign products and to encourage the location of production in Russia by foreign companies. Related measures are often contrary to the spirit and/or letter of WTO rules and are at the root of many trade stimuli.
Since Russia joined the WTO in 2012, the EU has lodged four WTO disputes against Russia: since 2012, when Russia joined the WTO, trade relations between the EU and Russia are also marked by multilateral WTO rules. In 2010, Russia established a customs union with Kazakhstan and Belarus.