This paper has presented an approach to measuring the trade integration in the Eurasian Economic Union based on the decomposition of foreign trade turnover and the allocation of nonfuel trade in the tradebalance analysis, as well as the importance of trading partners and economic dependence in integration associations. The advantages of the parameter of foreign trade nonfuel quota that characterize the interrelation of the objectives of liberalization of the economy in the model of regional integration of the Eurasian Economic Union have been substantiated.

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The article examines the state of Russian-Serbian economic cooperation at the present stage, taking into account the influence of various factors, including the coronavirus pandemic, the sanctions confrontation and the geopolitical and economic situation in the world. Particular attention is paid to the crisis period of 2020–2021, during which interaction between the countries not even stopped, but in some areas intensified. Amid numerous restrictions during the pandemic, border closures, reduced trade and many other factors inhibiting business activity, none of Russia’s key projects with Serbia have been frozen or halted. So far, Serbia is the only European state that has not joined the anti-Russian sanctions policy.

The article examines the impact of Chinese investment on the economies of the Western Balkans, in particular on Serbia and Montenegro. The authors assess the key Chinese investment projects in terms of their potential benefits and risks, among which the main problem is the growing economic dependence on China and the increasing debt burden in the countries of the region. China’s interests in the Balkans are varied, but are mainly focused on infrastructure and industrial projects that further promote the Belt and Road Initiative.