Ekaterina Arapova is Director at the Center of Sanction Policy Expertise at the Institute of International Studies, Moscow State Institute of International Relations (University), Ministry of Foreign Affairs, Russian Federation.
International sanctions affect international trade significantly. They lead to a decrease in the trade flow between the sender and the targetFootnote1; when the political relationship is strained, it can negatively affect trade flows.Footnote2 Moreover, the threat of economic sanctions may be even more important than the actual imposition.Footnote3 The anticipation effect may bring controversial results for both the sender–target interactions and the target’s relations with the third countries.
At the St. Petersburg International Economic Forum in 2017, the Minister for Trade of the Eurasian Economic Commission, Veronika Nikishina and India’s Minister of State of Commerce and Industry, Nirmala Sitharaman met to sign a joint statement on the start of negotiations on a free trade agreement between the Eurasian Economic Union (EAEU) and India.
