The article aims to conceptualize the economic model of the Eurasian Economic Union (EAEU), to find similarities with the European Union single market model, to identify critical remarks on the part of the EU, to estimate the perspectives of integration in a wide space from Lisbon to Vladivostok, Astana and Bishkek. The author comes to the following conclusions. 1) The EAEU complies with canons formed by the EU and is being built with due regard to the European integration experience. The common external tariff, the "four freedoms" of the internal market and principles of its organization – the prohibition of discrimination, harmonization, mutual recognition of standards, conformity mark, common sectoral policies, logic of neofunctionalism – all these regulation elements are present in both models. 2) Russia considers cooperation with the EU as positive, because it has gained regulation methods for the traditionally controlled market and strengthened its global position due to this cooperation. 3) The EU makes a significant indirect impact on the Eurasian integration through criticism and expansion of peculiar approaches. Part of the criticism is of temporary or politicized character. 4) The EAEU has a strong starting idea – common history, common genetics and the need to preserve achievements in exploration and development of the vast Eurasian space. 5) An opportunity for interaction between the EU and the EAEU derives from the convergence of regulatory systems. However, high degree of state participation in economies of the EAEU countries, which distinguishes the Eurasian model from the European one and has become an irritant in the EU–EAEU relations, will continue to hinder "the integration of integrations".