Russie.Eurasie.Visions - Rosneft, Gazprom and the Government: the Decision-making Triangle on Russia's Energy Policy Russie.Nei.Visions, No. 75, March 2014
Russia finds itself exposed to many risks in the fast-moving global revolution in energy affairs, and cannot avail of its opportunities despite its unique combination of natural resources and experience in their exploitation. It has entered the phase of economic stagnation, and the under-performance of the energy sector is one of the key determinants of the durability of this trend.
Energy export can no longer be wielded as a heavy-impact instrument of foreign policy, and the squabbles for shrinking oil and gas revenues form a key driver of the evolving crisis of the petro-authoritarian regime built by President Vladimir Putin. Escalating problems in the Russian energy sector are caused by the system of decision-making on oil and gas matters, in which Putin acts as a supreme arbiter in the flexible triangle formed by the government and two super-large state companies—Gazprom and Rosneft.