Vladimir Putin signed a law establishing the EEA.

On Friday the RF President Vladimir Putin signed a law on ratification of the treaty between Russia, Belarus and Kazakhstan on the establishment of the EEA (Eurasian Economic Area)from 1st January 2015, thus completing the process of the contract approval by the Russian side. The document envisages the creation of the new integration association with the general economic regulation within a decade, the next step after the Customs Union and the Common Economic Space.

The document recorded the phasing out of the protective measures and the creation of common markets, including the most heavily regulated industries (pharmaceutical in 2016, the distribution of electricity by 2019, financial services, including the creation of a common "mega regulation", as well as the gas, oil and oil products market in 2025).