EU and Russia focus on core issues during Brussels Summit

The European Union and Russia held a summit in Brussels on 14 and 15 December. Russia was represented by President Dimitri Medvedev.  whilst the EU was represented by Herman Van Rompuy, President of the European Council, and by José Manuel Barroso, President of the European Commission, Catherine Ashton, High Representative of the Union for Foreign Affairs and Security Policy.

Economic ties between Russia and the EU have grown substantially over the last years. Russia remains the EU's third most important trading partner in goods (after the US and China), with 87 billion EUR in exports to Russia (6.4% of all EU exports, 4th place after US, China, Switzerland) and 158 billion EUR in imports in 2010 (10.5 % of all EU imports, 3rd place after China and US, mostly natural resources). The EU is thus by far the largest market for Russian goods.

In 2010, both imports and exports rose by approximately 32 % compared to 2009, after having been hit by the global economic crisis. Russia's total account surplus rose by 47% compared to 2009 and reached $ 79 billion in 2010.

More specifically, Russia is the EU's most important single supplier of energy products, accounting for over 23% of the EU consumption of gas and 30% of its total crude oil consumption. In turn, Russia's economy remains highly dependent on the export of energy raw materials, with the EU as its most important destination. In 2010 63% of Russia's exports consisted of crude oil, oil products and natural gas. The EU accounts for 88% of Russia's total oil exports, 70% of its gas exports and 50% of its coal exports.

Commonspace.eu political editor said that despite the fact that there are currently many outstanding issues between Russia and the European Union, and despite serious concerns in the EU about the recent elections for the Russian Parliament, the two sides understand that they need to push ahead with developing relations between them and the summit was used to focus on many tangible and core  issues of co-operation such as energy and citizens mobility.

source: commonspace.eu with the Press Service of the European Union

picture: courtesy of the European union

Related articles

Editor's choice
News
Borrell tells the European Parliament that the situation in Afghanistan was critical, but the EU will remain engaged

Borrell tells the European Parliament that the situation in Afghanistan was critical, but the EU will remain engaged

Borrell underlined that the European Union will make every effort to support the peace process and to remain a committed partner to the Afghan people. "Of course, we will have to take into account the evolving situation, but disengagement is not an option.  We are clear on that: there is no alternative to a negotiated political settlement, through inclusive peace talks.
Editor's choice
News
NATO Chief says war is on Europe's doorstep, and warns against complacency

NATO Chief says war is on Europe's doorstep, and warns against complacency

Russia could attack a Nato country within the next five years, the Secretary General of NATO, Mark Rutte, said in a stark new warning. "Nato's own defences can hold for now," Rutte warned in Berlin, but conflict was "next door" to Europe and he feared "too many are quietly complacent, and too many don't feel the urgency, too many believe that time is on our side. "Russia is already escalating its covert campaign against our societies," Rutte said in a speech in Germany. "We must be prepared for the scale of war our grandparents or great-grandparents endured." Earlier this month, Russia's President Vladimir Putin said his country was not planning to go to war with Europe, but it was ready "right now" if Europe wanted to - or started a war. But similar reassurances were given by Moscow in 2022, just before 200,000 Russian troops crossed the border and invaded Ukraine. Putin has accused European countries of hindering US efforts to bring peace in Ukraine - a reference to the role Ukraine's European allies have recently played in trying to change a US peace plan to end the war, whose initial draft was seen as favouring Russia. But Putin was not sincere, Nato's secretary-general said in the German capital, Berlin. Supporting Ukraine, he added, was a guarantee for European security. "Just imagine if Putin got his way; Ukraine under the boot of Russian occupation, his forces pressing against a longer border with Nato, and the significantly increased risk of an armed attack against us." Russia's economy has been on a war footing for more than three years now - its factories churn out ever more supplies of drones, missiles and artillery shells. According to a recent report by the Kiel Institute for the World Economy, Russia has been producing each month around 150 tanks, 550 infantry fighting vehicles, 120 Lancet drones and more than 50 artillery pieces. The UK, and most of its Western allies, are simply not anywhere near this point. Analysts say it would take years for Western Europe's factories to come close to matching Russia's mass-production of weapons. "Allied defence spending and production must rise rapidly, our armed forces must have what they need to keep us safe," the Nato chief said.

Popular

Editor's choice
News
NATO Chief says war is on Europe's doorstep, and warns against complacency

NATO Chief says war is on Europe's doorstep, and warns against complacency

Russia could attack a Nato country within the next five years, the Secretary General of NATO, Mark Rutte, said in a stark new warning. "Nato's own defences can hold for now," Rutte warned in Berlin, but conflict was "next door" to Europe and he feared "too many are quietly complacent, and too many don't feel the urgency, too many believe that time is on our side. "Russia is already escalating its covert campaign against our societies," Rutte said in a speech in Germany. "We must be prepared for the scale of war our grandparents or great-grandparents endured." Earlier this month, Russia's President Vladimir Putin said his country was not planning to go to war with Europe, but it was ready "right now" if Europe wanted to - or started a war. But similar reassurances were given by Moscow in 2022, just before 200,000 Russian troops crossed the border and invaded Ukraine. Putin has accused European countries of hindering US efforts to bring peace in Ukraine - a reference to the role Ukraine's European allies have recently played in trying to change a US peace plan to end the war, whose initial draft was seen as favouring Russia. But Putin was not sincere, Nato's secretary-general said in the German capital, Berlin. Supporting Ukraine, he added, was a guarantee for European security. "Just imagine if Putin got his way; Ukraine under the boot of Russian occupation, his forces pressing against a longer border with Nato, and the significantly increased risk of an armed attack against us." Russia's economy has been on a war footing for more than three years now - its factories churn out ever more supplies of drones, missiles and artillery shells. According to a recent report by the Kiel Institute for the World Economy, Russia has been producing each month around 150 tanks, 550 infantry fighting vehicles, 120 Lancet drones and more than 50 artillery pieces. The UK, and most of its Western allies, are simply not anywhere near this point. Analysts say it would take years for Western Europe's factories to come close to matching Russia's mass-production of weapons. "Allied defence spending and production must rise rapidly, our armed forces must have what they need to keep us safe," the Nato chief said.