The global energy market continues to be driven by the political economy of oil production and trade. Energy markets have come full circle returning to their fundamentals: oil is there to stay and play an important role in the era of slow melting of the oil surplus.
In view of the accelerated development of new technologies and potentially low energy prices, the struggle for energy markets will intensify. No matter in what areas energy cooperation may develop in the future, its main task will be attracting investment, technologies and human capital into the Russian fuel/energy sector.
This article reviews key dynamics in the Middle Eastern oil and gas to explain how they shape the global energy picture. The author makes sense of the Saudi-Iran relations and the role OPEC is set to play in the emerging energy landscape. Finally, political developments in the broader region, including Turkey, are discussed.
The three pillars of Saudi power projection, namely Islam, oil, and the U.S. patronage, have grown considerably weaker in recent years. The era of checkbook diplomacy is truly over and Riyadh will have to invest more in diplomacy.
We need a substantial strategy of pricing policy and implementation mechanisms to avoid emotional shocks every time oil prices drop. The fuel market should be more controllable, balanced, and fair, as Russia’s national interests demand.
While the Energy Charter has faced its own crises during the last two decades, it is now time to take the opportunity of further strengthening the organization. The Energy Charter is up to the challenge and we are now only beginning to realize its potential of becoming a 21st-century governance power in the energy investment field.
At a roundtable event in Moscow, top experts debated the “hypocritical” and “insincere” foreign policies of both Russia and the West in the post-Cold War era.
Vladimir Putin has mentioned several times that the collapse of the Soviet Union was a geopolitical mistake. Although these words were often interpreted as his desire to constitute that country, there is little reason to believe this.
The 13th annual meeting of the Valdai Discussion Club includes a special session on the theme “What if… the Soviet Union had not collapsed?”
The Transatlantic Trade and Investment Partnership is by far the most ambitious project in the field of contractual formats of regional economic cooperation, combining traditional measures to liberalize mutual trade with regulatory rules of economic activity on the territories of member states. If successful, this project will influence on the development of both the world economy and its regulatory mechanisms.
Belarus’ traditional structural dependence on Russia is increasing, and Minsk’s freedom of maneuver continues to shrink.
The oil- and gas-rich states of the Caspian Sea basin—Azerbaijan, Kazakhstan, and Turkmenistan—registered phenomenal growth throughout most of the 2000s. However, the heady days of resource-fueled development now appear to be over, and local governments are suddenly struggling to overcome massive budget deficits, devalued currencies, and overall economic stagnation.