Russian Energy Policy A Closer View On Putins Third Presidential Term

Download or read book Russian Energy Policy. a Closer View on Putin's Third Presidential Term written by Rose McCathy and published by GRIN Verlag. This book was released on 2014-04 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2012 in the subject Politics - International Politics - Region: Russia, grade: B, University of Illinois at Chicago, language: English, abstract: Energy policy refers to the approach that governmental entities take to address issues pertaining to development of energy, particularly its production, distribution, and consumption. Energy policy is surrounded by many factors that affect it, which include legislative policies, investment incentives, treaties, taxation policies, and energy conservation, among many other public policy factors. The Russian energy policy is contained in a strategy document, which outlines the nation's energy policy until the year 2020. Russia has been proved to have the largest natural gas reserves in the world, and it recurrently alternates the top oil producer position with Saudi Arabia. Russia is responsible for supplying over a third of the oil and natural gas that Europe uses, and it is even starting to export its surplus to East Asian markets, which are hungry for energy. The energy sector is obviously a vital commercial asset for Russia, but it is much more than just that; for more than a century, Russia's energy sector has been one of its major pillars in the country's stabilization and escalating power. Energy security has been classified as the most fundamental aspect of Russia's national security, and more so because of the recent changes in global trends, which make the continuation of the strength of Russia's energy sector doubtful. Through out the history of Russia, its energy sector has undergone cycles of fluctuating strength and weakness. Since the czarist times, it has been the focus of the country's policy to manage these cycles. However, this history can be traced back to Vladimir Putin's regime. This paper, therefore, will discuss the political pressure activated by Russia's trade of oil and natural gas in Europe during Putin's third presidency.