Event Overview
With prices cratering and with Russia and OPEC at loggerheads, Moscow's ability to use energy to reward friends and punish adversaries appears weakened. But how much and for how long?
From the oil price war between Russia and Saudi Arabia to Rosneft's pullout from Venezuela, the geopolitics of energy is rapidly changing in the era of COVID-19. Moscow has long used energy as a geopolitical tool. But with prices cratering amid the coronavirus crisis and with Russia and OPEC at loggerheads following the collapse of a three-year-old agreement on production levels, Moscow's ability to use energy to reward friends and punish adversaries appears weakened. But how much and for how long?
CEPA held a discussion to consider: the impact Russia’s oil price war is having on the West, Russia’s goal in starting a costly dispute in the middle of a crisis, and the long term implications of Russia’s moves for the energy sector.
