Russia-Led Eurasian Bloc Touts $80 Billion in Trade and Eyes Armenia

Leaders of the Eurasian Economic Union, the trade bloc led by Russia, gathered in Astana, the capital of Kazakhstan, for a two-day summit. Internal trade turnover exceeded 80 billion euros last year, and officials forecast it would rise further as the bloc, in its twelfth year, works to integrate artificial intelligence, shared digital markets, and trade corridors.

The summit also turned to membership. The bloc's leaders urged Armenia to hold a referendum and choose between the Russia-led union and the European Union, framing the country's June 7 election as a decisive moment for the South Caucasus.

The gathering is a marker of the slow construction of economic structures outside the Western-led system. Trade settled increasingly in national currencies, integrated digital payment networks, and regional corridors all reduce reliance on the dollar and on Western financial infrastructure, part of the gradual move toward a multipolar monetary order.