On May 29, 2014, Russia, Belarus, and Kazakhstan signed the Eurasian Economic Union Treaty, formally creating the Eurasian Economic Union. According to a press release, the treaty creates “a common space where goods, services, capital and work force can move freely” and in which “[t]he three states will follow a coordinated policy in such key branches of the economy as energy, industry, agriculture and transport.” The treaty will enter into force January 1, 2015.