Russia has benefited immensely from the soaring price of oil and natural gas on the world market, transforming its economy from virtual bankruptcy to one marked by large surpluses and robust growth. Fueled by its fortunes on the global energy market, Russia’s sense of international strength and sovereignty has also grown. Yet Russia’s future remains tied to two uncertain factors: energy prices and the ability to sustain production. As Russia surveys this tentative landscape, how will it adjust its energy policies to ensure continued success and security? And what is the future for Russia’s energy sector and its economy?
On November 30, Brookings hosted a discussion with Vladimir Milov, president of the independent, non-profit Moscow-based Institute of Energy Policy and former Deputy Energy Minister for the Russian Federation. Mr. Milov discussed the future of Russian energy policy by examining the challenges and implications of its current policies. Clifford Gaddy, senior fellow, the Brookings Institution, made introductory remarks and moderated the discussion.