Nevenka Jeftić Šarčević

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Institute of International Politics and Economics, Belgrade.


The Energy Policy of Russia in The 21st Century

The desire to restore the role of a world power, as the Soviet Union once had, the Russian Federation under the new conditions could and will fulfil using its energy wealth. Two factors favouring that: first of all Russia's richness in natural gas and other energy sources, and second, the growing needs in the world, and especially in Europe, for oil, and even more for natural gas. For achieving its goal of Russia has developed a number of projects which primarily covers a wider Eurasian and Mediterranean area, as well as other global directions. In this paper, a detailed analysis of these factors and projects is provided. In the implementation of its energy policy Russia is guided primarily by their economic interests that serve the specific aim to become a world power in international relations. This is indicated by a differentiated pricing of natural gas solely from Russia's economic interests. The paper in this regard points to unwarranted expectations, often present in our community about the existence of emotional factors upon which Russia gave benefits to Serbia or any other Orthodox, Slavic, etc. country. The general conclusion of the paper is that the partnership from both sides, not just the Russian, must be based on economic calculations, whereby, this countries where energy from Russia, particularly natural gas required, must reconcile with the fact that they serve to achievement of the political-strategic goals of Russia, but it cannot be avoided. However, they could call for fairer prices, even though the notion of fairness in economics is debatable. But there is no other way out, especially in a situation where even the rich countries are not investing enough in the discovery and development of alternative and renewable energy. It is left for the time when oil and gas reserves in the world will be exhausted to a greater extent.