THE NEW SILK ROAD AND RUSSIAN INTERESTS IN CENTRAL ASIA

Stanojević Nataša (PhD, Associate professor. Faculty of International Economics, Bulevar umetnosti 29, Belgrade), nstanojevic@nezbit.edu.rs

The main research topic is the impact of the Chinese New Silk Road project on the Russian interests in one of the zones of its strongest traditional influence – Central Asian countries. The first part analyses the main benefits of this giant project for China, such as keeping the high growth rate by new investments, increasing export, stable and diversified energy supply and additional internationalization of its currency. The second part studies the position of one by one Central Asian country spreading between China and Russia. Here the statistics are given about the international trade of these countries with Russia and China during the last 15 years. In the same part of the research data about volume, direction and gains from Russian and Chinese investments into Central Asian countries are analysed and compared. This analysis clearly shows a decline of Russian influence in Central Asian countries caused by much greater benefit of China as a partner. The third part explores the reasons for the absence of Russian resistance to the project. Besides plenty of Chinese concessions to Russia, large investments, advantages in AIIB, favourable long-term gas deals, probably a more important reason for Russian approval of the Silk Road is its geopolitical position. After the crisis in the Russian relations with the EU, China has become its most reliable partner in all terms. Also, both countries are aware of a much higher priority of common goals: raising BRICS to the position of a globally important subject and keeping the region out of reach of the third parties.

Keywords: The Silk Road, China, Central Asia, Russia, energy network