Russia: Energy Surge and Geopolitical Milieu

Abstract

The chapter explains oil and natural gas surge in Russia after the disintegration of Soviet Union, Moscow’s ‘Asia Pivot’ Approach, Russia in India’s hydrocarbon map, implications of energy pipeline, Crimea War and western sanctions against Russia, volatility of crude price and the matrix of India–USA–Russia–China energy geopolitics. The chapter attempts to discuss all these aspects from the domestic policies of Russia and international developments. After the disintegration of Soviet Union, Russia had lost its levers in global geopolitical developments because of its economic crisis, declining oil production and loss of energy market. But the rise of Putin as the President of Russia in 2000 and assertive approach of the Russian government have led to boom in the Russian oil and natural gas sector. The explorations from the shale basins, Arctic and the East Siberian regions have added new dimensions to Russia’s traditional potentials. Hence, India, like all other major energy-importing countries, has turned to Russian market for a more reliable and uninterrupted supply of energy.