Russian Strategy and Energy Policies in Eurasia: Opportunities and Limitations

Within the framework of an international political economy approach, this article analyses the increasing distance between Russia and the European Union (EU) in their interdependent relationship, with regard to oil and gas. Russia’s need to export its oil and gas to European markets has led to mutual dependence that precludes the instrumentalization of energy and pipeline policy as a factor of Russian foreign policy in the age of globalization. The author argues that using its energy sources and pipeline monopolies as a political instrument to enforce its economic and geopolitical interests will be self-defeating for Russia in terms of its long-term strategic interests. Furthermore, this article attempts to outline the main obstacles for Russia in the Eurasian energy market, such as the presence of China, the European Union and the United States.