Putin’s Oil and Gas Diplomacy

Slowly but surely Russia is building its multipolar world based on oil and gas. No longer a Cold War mainstay, the country cannot count on its economy, army or diplomacy to bring it to the superpower status, or at least shift the balance of powers somewhat. But in the situation when world oil prices show no sign of stopping and world economic growth demands fuel, Russia has suddenly found itself a purveyor of a very expensive and highly-demanded resource — or rather, two of them — oil and natural gas. It has begun, under President Putin, to use the gas issue to bring to order its former satellites — the former Soviet republics such as Moldova, Ukraine and Georgia. By launching construction of the North European gas pipeline it is “punishing” such “adversaries” as the Baltic states and Poland. But the same natural resources are also used for deepening or establishing friendly relations such as with Turkey, Germany and now, APEC.

MosNews