The prospects of economic relations between Russia and the European Union in the context of the formation of the Eurasian Economic Union (EAEU) are high on business communitys agenda. Business on both sides is working on retaining well-established mutually beneficial ties and is seeking new formats and opportunities for cooperation in trade, investment, science, technology and other areas. Which new opportunities does the EU EAEU format open not only for major economic players, but also for SMEs? Will the new format become the basis for diversification of foreign economic relations? What future projects of business cooperation from Lisbon to Vladivostok can be discussed today?