Eurasian Union is an economic alliance, rather than the USSR reincarnation, the board chair of the Eurasian Economic Commission (EEC) said.

As Viktor Khristenko stated during a meeting with the Yerevan State University (YSU) students, "Eurasian Union is planned as an economic alliance, without any political implications. Other organizations, like CSTO, serve this purpose, being engaged in military and political integration."

Khristenko went on to refute suggestions that a Customs Union membership might lead to loss of sovereignty. As he noted, current CU members - Russia, Belarus and Kazakhstan – have different economic potentials. Russia has 87% of the total potential; however, the CU-related decisions are made at the Council level, through a consensus. Decisions at the Eurasian Economic Commission are passed with the 2/3 of votes, Novosti-Armenia quoted him as saying.

Earlier President Serzh Sarsgsyan met Khristenko to discussed Armenia-EEC cooperation.

The parties focus on a memorandum of cooperation inked on November 6, expressing confidence that the document will contribute to strengthening of Armenia-EEC ties.

As they further stressed, extensive work is to be accomplished following Armenia's decision to join the Customs Union, with close cooperation between the parties necessary.

A memorandum on deepening cooperation with the Eurasian Economic Commission (EEC) and the Republic of Armenia was signed in Yerevan on Wednesday, November 6. The document to serve as a basis for Armenia’s joining the Customs Union was signed by EEC chairman Viktor Khristenko and Armenian Prime Minister Tigran Sargsyan.