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The WTO and the Customs Union: What Consequences for the Russian Banking Sector?

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Russie.Eurasie.Visions
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L'OMC et l'Union douanière : quel impact pour le secteur bancaire russe ?
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Russia is now a member of World Trade Organization (WTO) and of the Eurasian Customs Union between Russia, Belarus and Kazakhstan. Questions remain over how this new global and regional integration will affect the competitive environment of the Russian banking services industry. 

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This paper shows that the mere entry of Russia into the WTO will not cause significant additional growth in the inflow of foreign investment into the Russian banking system. Changes in the structure of the Russian economy will lead to bankruptcy of some banks that are unable to diversify their business sufficiently. Credit institutions that do not have state backing or strong business clientele will have to find new niches associated with the sale of banking services to less well-off segments of the population.

An earlier version of this paper was presented at a conference organized by Ifri in the framework of the Eurasian Trade Task Force (ETTF), 31 May 2012. The ETTF addresses the different commercial and economic integration projects in Eurasia and their impact on domestic and foreign policies of the states concerned.

 

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978-2-36567-073-9

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The WTO and the Customs Union: What Consequences for the Russian Banking Sector?

Decoration
Author(s)
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Russie, Eurasie, Carte
Russia/Eurasia Center
Accroche centre

Founded in 2005 within Ifri, the Russia/Eurasia Center conducts research and organizes debates on Russia, Eastern Europe, Central Asia, and the South Caucasus. Its goal is to understand and anticipate the evolution of this complex and rapidly changing geographical area in order to enrich public discourse in France and Europe and to assist in strategic, political, and economic decision-making.

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War as Social Elevator: The Socioeconomic Impact of Russian Military Keynesianism

Date de publication
19 June 2025
Accroche

In order to finance its war effort, the Russian state has spent substantial sums of money and implemented a form of “military Keynesianism” that is transforming society at both the socioeconomic and cultural levels. This has partially rebalanced the wide disparities in wealth, levels of consumption, and social prestige in Russian society by granting significant financial and symbolic advantages to peripheral Russia, which has long been overlooked by the central government. 

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The Contradictory Impacts of Western Sanctions on Economic Relations between Russia and Sub-Saharan Africa

Date de publication
28 May 2025
Accroche

How does Russia maintain economic ties with Africa despite Western sanctions? An analysis of investments, trade, and the circumvention strategies deployed by Moscow.

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The Caspian Sea as an Emerging Energy Hub : Potentials and Limitations

Date de publication
07 February 2025
Accroche

This report analyzes the prospects of the Caspian Sea region — and its key actors except for Russia and Iran — becoming an important energy hub serving the needs of the European Union (EU). 

Sergey SUKHANKIN
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The European Union's Strategic Test in Georgia

Date de publication
27 January 2025
Accroche

The political crisis brewing in Georgia is of an existential nature for the country. What is at stake is Georgia's future as a democratic and sovereign European nation (EU).

Teona GIUASHVILI

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L'OMC et l'Union douanière : quel impact pour le secteur bancaire russe ?
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L'OMC et l'Union douanière : quel impact pour le secteur bancaire russe ?

The WTO and the Customs Union: What Consequences for the Russian Banking Sector?