The article provides a typology and a comparative analysis of academic studies on EU-Russian economic cooperation since its formal inception in the early 1990s. The authors strive to present a contextual analysis, explaining how the bilateral trends have been perceived in the respective academic environments. On this basis, the paper accentuates problems of academic dialogue between EU and Russian researchers, like constraints of mutual internalization, language-determination, and different research agendas. Four European discourses on the role of economic relations in EU-Russian relations are identified: Normative one (economic and non-economic interlinkages are inseparable and structurally determined), ‘Business case’ discourse (economic relations constitute an inherent system), ‘Neo-Ostpolitik’ discourse (establish reliable and trustful relations between the EU and Russia) and ‘Economic statecraft’ discourse (maximizing EU power and disciplining Russia). Russian publications are usually more policy-oriented compared to Western studies. We trace four periods: Illusions of Euro optimism during Russian market transformation (1992–1999); Adaptation to the EU enlargement and Putin’s attempts to establish a partnership with leading EU member states (1999–2008); Crisis in EU-Russian relations (2008–2015) and New Cold War (since 2015).