Factor of 'power' in the European vector of Russia's foreign policy strategy and the globalization of energy policy

Nataliia Slobodian
2015 Studia z Dziejów Rosji i Europy Środkowo-Wschodniej  
Outline of content: In the modern world of energy dependent economies, the energy component acts as a determining factor in making strategic and political decisions in the geopolitical dimensions. The article's central interest focuses on the economic origins and financial base of the energy component of Russia's aggressive foreign policy in the European space. It contains the qualitative and quantitative indicators of the structure of modern Russian energy market and presents the research of
more » ... s the research of sources of economic basis of Russia's military overcapacity and correlation between the size of defense spending and state budget revenues of the Russian Federation in the energy sector. Based on the findings of this study, possible ways and measures can be modeled to create an effective financial-economic and political-strategic system of the EU states to deter the current course of the Kremlin tight energy policy on the territory of European countries. Keywords: energy factor, energonomy, militarization of energy policy of the Russian Federation, sectoral sanctions, energy-dependent state Słowa kluczowe: czynnik energetyczny, energonomia, czynnik siły w polityce energetycznej Federacji Rosyjskiej, sankcje sektorowe, państwa zależne energetycznie The Russian Federation remains one of the largest exporters of energy in the world market. Occupying a leading position in oil production at the global scale, Moscow provides more than 12% of the world oil trade. About 23% of the world natural gas reserves are located in Russian subsoil, contributing a quarter of world trade volumes of this source of energy. Russian nuclear power has a 45% share of uranium enrichment market, 15% of reprocessing nuclear fuel market, 5% of the power generation market, 15% of the nuclear reactor construction and 8% of the world production of natural uranium [1, 2, 3]. The oil and gas sector is of vital importance for the stability of the Russian economy, social security, sustainable development of scientific
doi:10.12775/sdr.2015.1.06 fatcat:qajrxgaymjh3bcf3tk37bdyo34