COMPETING INTERESTS OF THE EUROPEAN UNION AND RUSSIA IN THE WESTERN BALKAN COUNTRIES WITH A COMPREHENSIVE ANALYSIS OF ECONOMIC LEVERAGE.

This article aims to use the economic mechanisms to analyse the influence of the European Union (EU) and Russia in the Western Balkan countries (WBC). A comprehensive analysis is carried out in the sense of economic indicators examination (trade, foreign direct investments, energy market analysis). Results indicate that the dominant EU influence in the WBC, induced by the strong economic impact, has been weakened due to the EU's procrastination surrounding the enlargement strategy, thus leaving plenty of room for rapid consolidation of pro-Russian tendencies and aggravation of the geopolitical component. Data were calculated on the basis of relevant statistical databases and surveys. [ABSTRACT FROM AUTHOR]