The first Eurasian Economic Forum kicks off in Kyrgyzstan capital Bishkek on Thursday as Russia battles unprecedented sanctions amid the ongoing conflict with Ukraine which is having much wider ramifications not just in the region but all over the world.

The Russia-led Eurasian Economic Union (EAEU), which also includes Armenia, Belarus, Kazakhstan and Kyrgyzstan, will be meeting in the backdrop of Moscow vowing to raise cooperation with post-Soviet states located in the region to a "qualitatively new level of allied relations" to counter a wide range of "modern challenges and threats".

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