The year 2007 will mark the tenth anniversary of the Partnership and Cooperation Agreement (PCA) between the EU and Russia. At their Sochi summit in May 2006, the two parties agreed to work towards a new agreement to replace the PCA. This book explores whether the EU and Russia could make a better job of their strained relationship, which, while peaceful, is nevertheless characterised by mounting grumbles on both sides over how to govern oil and gas trade and investment, through to issues of democratic values and divergent approaches to such countries as Georgia and Ukraine in their overlapping neighbourhoods.