The Geopolitics of the Russian Federation‘s Energy Policy
The Geopolitics of the Russian Federation‘s Energy Policy

Summary/Abstract: Russian Federation has become heavily dependent on its energy exports over the last two decades. These exports, which account for 70% of its total export revenues, have made Russia one of the most significant players relying on the global energy trade. Nevertheless, the Western sanctions against Moscow over the Crimean conflict have further contributed to the negative effect on the economy of the country. The economy of the country shrank by up to 4 percent and it is expected that this situation will continue to remain the same so long as low oil prices and sanctions are a reality. Since 2014, Western economic sanctions have directly targeted many Russian companies and, together with low oil prices and poor management of the economy, have become the main factors contributing to the decline of the Russian economy.

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