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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
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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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dimitri_minic_journal_of_strategic_studies_volume_47_2024

How the Russian Army Changed its Concept of War, 1993-2022

Date de publication
23 May 2023
Accroche

The traditional and high-intensity war that has occurred in Ukraine since Russia decided to invade raises a key issue: did post-soviet Russian strategic thought really prepare Russia for waging this war?

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Russia's Nuclear Deterrence Put to the Test by the War in Ukraine

Date de publication
06 October 2025
Accroche

From the outset of its “special military operation” (SVO) against Ukraine on February 24, 2022, Russia, which possesses one of the world’s largest nuclear arsenals, has adopted aggressive deterrence measures and a resolutely menacing rhetorical stance.

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Moldova's Crucial Parliamentary Election. What's at Stake?

Date de publication
22 September 2025
Accroche

On the occasion of Moldova’s National Day, August 27, 2025, Chișinău hosted a high-level European delegation composed of Emmanuel Macron, Friedrich Merz and Donald Tusk, who sought to reaffirm their support for the country’s sovereignty and pro-European course. This unprecedented and highly symbolic visit took place at a pivotal moment. Moldova is preparing for decisive parliamentary elections on September 28, whose stakes extend far beyond the national framework.

Florent PARMENTIER
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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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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?