Russia Is Losing Ground in the Balkans: Summary As Russias economic troubles lower remittance volumes and cause currency fluctuations and abnormal trade patterns throughout the former Soviet Union, the countrys economic struggles threaten to undermine its position further afield. The shift will be particularly evident in the Balkans, where Russia and the European Union are competing for influence. Serbia and Bulgaria have long been the main focus of Russias strategy in the Balkans because of their geographic location, relationship with the European Union and historic ties to Russia. Over the past few years, Moscow has used loans, strategic acquisitions, proposed energy projects, trade and other investments to deepen its relationship with Bulgaria and Serbia. However, negative growth in 2015 and a weakened currency in Russia will inhibit its ability to compete with the European Union for influence in the two countries.
Posted on: Tue, 06 Jan 2015 07:35:06 +0000
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