The study evaluated the economic, social and environmental impact and feasibility of a free trade agreement (FTA) between the EU and the Russian Federation. The study is an update and extension of the CASE 2007 study on "Economic Feasibility and General Economic Impact of a Free Trade Agreement between the European Union and the Russian Federation".  A team of researchers led by Maryla Maliszewska wrote the final report of the study. 

The Final Report was presented in July 2009. The authors concluded that an EU-Russia FTA would be beneficial to the Russian Federation and the EU27. As a result of a FTA the majority of sectors in Russia are expected to expand, while only a few sectors in the EU27 are expected to register negligible decreases in output. The authors quantify welfare implications of changes in the quality of the environment following the FTA. The welfare losses from the environmental damages are expected to be very small for Russia and negligible for the EU. Despite some significant negative medium-term social implications in selected sectors in Russia (textiles, coal), the overall increase in economic activity and wages, coupled with likely domestic policies aiming at easing the impact of transitional unemployment, are expected to allow for the overall reduction in poverty rates.