| Author (Person) | Verda, Matteo |
|---|---|
| Publisher | Italian Institute for International Political Studies (ISPI) |
| Series Title | ISPI Analysis |
| Series Details | No.147, November 2012 |
| Publication Date | 30/11/2012 |
| Content Type | Journal | Series | Blog |
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Energy sector has a pivotal role for the economy and the political system of the Russian Federation. Oil and gas industry provides a quarter of the GDP, two thirds of the exports and half of the budget income. As a result, Russian economy and Government expenditures rely on high oil price. A sudden drop would bring to a deep economic crisis, with unpredictable consequences. Oil and gas companies played also a political role in during the last decade. Putin strategy included a strong reaffirmation of the Government’s control over the main energy companies. In order to cope with the current and future challenges, Russian leadership needs to promote a multi-level diversification, which could lead to a more stable and resilient economic and political system. |
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| Source Link | Link to Main Source http://www.ispionline.it/it/pubblicazione/russian-oil-and-gas-sector-political-and-economic-prospects |
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| Subject Categories | Energy |
| Countries / Regions | Russia |
