The Current State and Prospects of EU-Russia Trade Relations

EU and Russia has always been main trading partners for each other but since Ukrainian crisis in 2014 their relations have been suffering from economic and political sanctions, and now it is of great importance to introduce possible measures that will help maintain and improve their trade relations and, therefore, trade turnover. Hence, the aim of the article is to present analysis of current state and to develop perspective ways to increase trade turnover between Russia and EU using multiple regressions modeling method. The system of econometric equations presented in the article is used as a basis for development of ways that help to solve the problem of decreasing trade turnover between EU and Russia. The model allows to introduce measures that will improve trade relations between two parties.