The export structure to the countries of Commonwealth of Independent States (CIS countries) differs, but the major part still belongs to hydrocarbons (39,5% in 2015 and 43,6% in 2014). RussiaвЂ™s export of hydrocarbons abroad declined to 66,4% of total exports in 2015 (in comparison with 73,4% in 2014). In the case of the EEU leaders вЂ“ Russia and Kazakhstan вЂ“ the export of hydrocarbons is one of the largest income items in the structure of their national budgets. The energy security of the importing countries of the EEU consists of вЂњthe uninterrupted availability of energy sources at an affordable price.вЂќ Exporting countries pay more attention to the вЂњsecurity of demandвЂќ the sustainable demand for hydrocarbons for reasonable prices on the international markets. EEU leaders will need to take into the account the interests of three major groups of countries: importing countries (Armenia, Belorussia and Kyrgyzstan), exporting countries (Kazakhstan and Russia) and transit countries (Belorussia). Until then Russia will remain the main negotiating party of the EU in energy security. Member states expect the first results of the common policy in creating a common electricity market by 2019 (and a common oil and gas market by 2025). The EEU has barely begun elaborating a security policy вЂ“ a process that could be long and complicated. Common Energy policy of the Eurasian Economic Union The South CaucasusвЂ™s share of RussiaвЂ™s exports is extremely small and Russia does not use this regional infrastructural system to deliver its oil and gas to European consumers. Russia does not consider it important in terms of its energy security policy. Russia and the EU look at the South Caucasus region differently. Conversely, Russia is shifting away from the EU in favor of enlarging the Asian market share of developing countries. Europe has adopted a complex of measures called the Third Energy Package aimed at defending its domestic market from foreign influence, as well as sanctions against the Russian energy sector. However, the EU regards the South Caucasus region (and Azerbaijan, in particular) as a potential energy supplier along with Russia in terms of diversifying its energy resources.ДЄt the same time Russia and the European Union are trying to limit each otherвЂ™s influence in the energy sector. The need for this is dictated by the interdependence of the Russian and European economies on fuel imports and exports. It is inevitable that Russia and the EU will continue developing their strategic partnership on energy security cooperation. The Europeans are significantly ahead in this field and have already started the creation of common energy market that is protected from foreign expansion.

The European Union (EU) and the Eurasian Economic Union (EEU) are in the process of elaborating common energy security policies. Still the remaining obstacles both within the region and outside of it create too many unresolved issues, which in turn hinder the smooth development of cooperation. For now the region remains on the bottom of priority list for both Europe and EEU countries, but in the future when the latter finalize their common energy policy, the South Caucasus may face intense competition from both neighbors. South Caucasus has the potential of becoming a stumbling block for both the EU and the EEU in terms of energy cooperation.

Caucasus politics definition